Nintendo's annual profit rockets by 500% after selling 15M Switch consoles

Nintendo's annual profit rockets by 500% after selling 15M Switch consoles

The Switch itself was a pretty bold experiment, as are the company's just-launched Nintendo Labo building toys - with a younger leader at the helm, it's possible we'll see Nintendo become even more fearlessly creative.

On top of this, Nintendo is forecasting to sell another 20 million Switch units this financial year, which would likely put their total system sales in line with those of the Xbox One.

The strong results and robust outlook underscore Nintendo's confidence that it has worked out the Switch's first-year production kinks and can attract buyers from beyond the hybrid console's core base.

Kimishima's time as president of Nintendo may have been brief, but as president he ushered in the release of the Switch, as well as several critically acclaimed games, such as The Legend of Zelda: Breath of the Wild and Super Mario Odyssey.

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The Switch has been a momentous comeback for Nintendo after the whole Wii U fiasco, and the company says the party is just getting started. In terms of what this means for Nintendo as a company, Furukawa appeared at a news conference, where he proclaimed his intention for Nintendo to "develop the company to its fullest", as well as to "balance Nintendo's traditions: originality and flexibility".

Nintendo said Mr. Kimishima, 68 years old, would be succeeded by Shuntaro Furukawa, now a managing executive officer.

Moving on to the Nintendo 3DS, sales for Nintendo's portable have bee good too, reaching 6.40 million for the fiscal year. The current president, Tatsumi Kimishima, was always understood to be a stand-in of sorts until a more permanent appointee could be decided upon. Furukawa is known as a very intelligent person who is even able to speak fluent English. We do know that the younger designers and leaders within Nintendo led the charge in the Switch's development and execution, which is the primary reason Nintendo forged its new partnership with Nvidia. "He may be the flawless person to fill the communication gap that exists between Nintendo and investors". "But the Switch absolutely needs more mega hit games in 2018".

Annual revenue from smartphone games rose 62 percent to 39.3 billion yen. In the following years, Kimishima would be promoted within Nintendo itself, becoming Chairman of the Board, then Managing Director, before finally taking on the Presidential position.

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