Nintendo reports slump in quarterly sales for its flagship Switch console
The Hindu
Nintendo saw sales of Switch Lite units more than halve to 1.14 million during the April-June quarter but maintained its full-year forecast for Switch hardware at 25.5 million units.
Japan's Nintendo Co Ltd said on Thursday sales of its Switch console fell 22% in the first quarter as demand for the hit device fades in its fifth year on the market. (Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) Investors are watching gaming firms closely for signals that the COVID-19 pandemic sales boom may be running out of steam. Nintendo is highly dependent on the cyclical console business, with sales of its devices traditionally peaking around the fifth year.More Related News