Nintendo has reached its record high stocks after eight years of struggling in the market which analysts first thought would result in a horrible shutdown. Big thanks to a phenomenal Switch the Kyoto firm has regained itself since this week.
Gone are the days for unsatisfactory sales performance and run-in-the-mill product releases as Nintendo is back on its feet. The firm was sealed by the end of the week at US$300.72 (JPY33,510) per share on Japan's Nikkei exchange. It was in 2006 when it launched the Wii console when the firm experienced such figure.
However, the popularity of the groundbreaking gesture-sensing console eventually ran down. In 2012, Nintendo tried its luck with the successor Wii U. With its limited technical capabilities, Wii U failed to impress amid the competition with other eight-generation consoles, Sony's PlayStation 4 and Microsoft's Xbox One. As smartphones began to rise at this time, it contributed much to the waning interest of the public and investors towards Nintendo's product.
Big thanks to Switch
Fast forward to 2017 when Nintendo launched Switch, the company was able to rise from the ashes. Apart from its measly number of titles that come with the pilot launch, critics were dubious of the console's performance because of its limited ability: no access to Netflix, Hulu, and other streaming services and no means to download old games. Despite that, Switch managed to surpass expectations.
As of April, Nintendo had shipped over 2.7 million units of Switch worldwide, exceeding the company predicted 2 million sales. As Switch reveals more titles along the way, sales are expected to soar higher.