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.
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