According to a recently released report sales revenues for Nintendo have seen an outstanding 200% rise in profits. This report comes a month following another report from Nintendo that projected Q1 growth of 428% profit rise. This rise in profits is speculated to be the result of growing demand for Nintendo’s Switch caused by the Coronavirus pandemic.
The first half of the year saw operating profits rise of 209% at ¥291.4 billion JPY, or roughly $2.8 billion USD over the first half of the previous year. This year Nintendo sold approximately 12.5 million Switch units between April & September of 2020. That’s an 81% rise. Sales for Nintendo products have also jumped to 73% ¥769.5 billion JPY or roughly 7.4 billion USD.
Sources say that the company may be on track for record-breaking profits next year. Last time the record was broken was roughly 12 years ago. The popular Nintendo games such as Animal Crossing: New Horizons have also contributed to the company’s success in addition to sales of the Nintendo Switch.
With all of that in mind, Nintendo’s competitors i.e. Sony & Microsoft may thraten Nintendo’s market share.
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