TOKYO: Nintendo reported its highest ever annual profit Thursday after virus lockdowns caused sales of its blockbuster Switch console to soar, but the Japanese gaming giant warned the bumper pandemic year would be hard to repeat.
Net profit jumped 85.7% from a year earlier to 480.4 billion yen for the fiscal year to March, beating the company’s prediction of 400 billion yen. “Regarding the risk associated with Covid-19… the supply of products might be affected if production and shipments are hindered,” Nintendo said in a statement.
“The global semiconductor shortage could hit the gaming industry hard this year as other essential industries such as the auto sector are waging a fierce battle for chips,” Yasuo Imanaka, chief analyst at Rakuten Securities, told AFP.The Switch was the US’ top-selling console in 2020, a year that saw record sales of video games, consoles and accessories, according to NPD group, a market research firm.
“Animal Crossing: New Horizons”, the latest title in the “Animal Crossing” series, was released in March 2020, as the Covid-19 pandemic was causing many countries to impose strict lockdowns.
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