Sunday 8 November 2020

Nintendo Profits Boom

Japanese gaming giant Nintendo's profits are soaring as a coronavirus boom in video games continues. The industry has been enjoying runaway sales during the pandemic as lockdowns and restrictions on movement have left many looking for entertainment. Rival Sony said last week that pre-release demand for its Playstation 5 was higher than expected. Global industry sales have topped $10bn (£7.6bn) each month since March, with sales growing each month, he said. Nintendo is one of the firms riding the crest of this wave, and its games have capitalised on different lockdown trends, Mr Evans said. Its Animal Crossing games lets users interact in a virtual world, which appeals to people who cannot meet up face-to-face. "You can visit people in the game, and it's become a way to socialise," he said. The big seller for Nintendo in terms of hardware was its Switch consoles, where it sold 12.5 million units in its first half.