Reported 20 days ago
Nintendo has revised its annual profit forecast downwards, reporting its fifth consecutive quarter of profit declines due to weakening demand for its Switch console. The company anticipates selling only 12.5 million Switch units this fiscal year, down from an earlier estimate of 13.5 million. Analysts suggest the Switch is nearing the end of its product lifecycle, especially as competitors introduce more advanced gaming systems. In response, Nintendo is focusing on leveraging its intellectual properties with new products and movies.
Source: YAHOO