Nintendo shares slump as price hikes, games shortfall spook market - Reuters
Nintendo shares slump as price hikes, games shortfall spook market Reuters
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Notable Quotes
"Results are good with (the Switch 2) breaking records but not great."
— Atul Goyal , Executive
"The new Switch 2 console is not selling as (much) software as its predecessor did."
— Amir Anvarzadeh , Executive
"Console profitability will decline further starting next fiscal year due to the ongoing surge in memory prices."
— Kazunori Ito , Executive
"The very fact that Nintendo felt compelled to act (price increase) suggests the rise in memory costs has become severe enough that it could no longer be absorbed internally."
— Kazunori Ito , Executive
"With the price hikes, profitability will be roughly unchanged from last financial year."
— Shuntaro Furukawa , Executive
"We thought that shouldering rises in costs by our company for a long period would make our businesses difficult."
— Shuntaro Furukawa , Executive
Key People
Analyst at Asymmetric Advisors who discussed competition for gamers.
Jefferies analyst who commented on Nintendo's Switch 2 performance.
CEO of Sony.
Morningstar analyst who analyzed the impact of rising memory prices on Nintendo.
Founder of Kantan Games consultancy.
President of Nintendo.
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<a href="https://news.google.com/rss/articles/CBMiuAFBVV95cUxPX2NDY1JCcUNqTDJqcFpXcWgxZllnWHRVV0Z2eGROVHdBRWFhM1M2SWdDd0VxY2ttbFhhZ1BPOFBwY0hqYXNNZTVuU2ppSUYzNlZGRE9aajlJNnpKMWo3WFFJbUlVZGRSWlUzN1d4eE5RN3k4akpjZ0hXSHV0MWUzd2c3Y0lqR1UxQWsyNHhHWm8zUU8tTk5NeVNpQkkxTE9Jci1MZmxaRDhrc3RmM181dUlPdjRtVmR1?oc=5" target="_blank">Nintendo shares slump as price hikes, games shortfall spook market</a> <font color="#6f6f6f">Reuters</font>
Nintendo forecasts a 26.9% decline in net profit for the current fiscal year, attributing it to slower sales of the Switch 2 console following a planned price hike. The company also announced global price increases for the Switch 2 due to rising component costs.
Nintendo's stock dropped 11% amid concerns over the Switch 2's momentum, despite strong sales during the year-end shopping season. Investors are worried about the console's lack of high-profile game titles to sustain demand.
Nintendo and Sony are facing challenges due to rising memory prices, driven by the AI boom, which is affecting their gaming businesses. Memory chip prices have doubled in the first quarter and are expected to climb further, impacting production costs.
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