Nintendo hikes sales forecast of Switch console to 155 million | allsaxmusic

Nintendo has kept players interested in its ageing Switch console series through key games with characters such as Super Mario and Zelda.

Charly Triballeau | AFP | Getty Images

Nintendo said it now expects to sell 15.5 million of its flagship Switch consoles in its current fiscal year, upping a previous forecast, after it beat market expectations for December quarter profit and revenue.

The Japanese gaming giant previously forecast sales of 15 million Switch consoles in the current fiscal year which ends in March.

Here’s how Nintendo did in its fiscal third quarter versus LSEG estimates:

  • Net sales: 598.6 billion Japanese yen ($4 billion) versus 568.7 billion yen expected
  • Net profit: 136.7 billion Japanese yen versus 130.3 billion yen expected

Fans and investors are watching for when Nintendo will launch a successor to its near 7-year old Switch console. Analysts who spoke to CNBC said they expect a new Nintendo Switch to come out this year.

The Japanese gaming giant has managed to keep momentum up recently thanks to the release of the « Super Mario Bros. Movie » and the flagship Zelda game last year, which boosted interest in the Switch and helped sales of the ageing console.

Tokyo-listed Nintendo shares are up around 14% this year already amid a broader rally in Japanese stocks and as investors bet the gaming firm will launch a new console soon.

This is a breaking news story. Please check back for more.

By Liam