Saying that Nintendo is back on the map is an understatement. After years of mediocrity, the company has regained its place at the top of the video game industry.
Behind Nintendo's surge to success is the Nintendo Switch, the hybrid console released in March that is on its way to carving out a massive space in the history books.
Nintendo's Star Shining Bright
Nintendo, which is already expecting to book its highest earnings over the past seven years, has nearly doubled its expected full-year operating profit.
The company is now forecasting a profit of 120 billion yen, equivalent to $1.06 billion, for its fiscal year running from April 1, 2017 to March 31, 2018, compared to the estimate of 65 billion yen from three months ago. However, the new forecast is still below the average projection of 133.60 billion yen from 22 analysts.
The main reason behind the even brighter outlook for Nintendo is of course the Nintendo Switch. The hybrid console has led to an almost double stock price for the company, up to nine-year highs.
Nintendo Switch Sales To Beat Wii U In Just A Year
The Nintendo Switch has served as a reminder of Nintendo's glory days, and has also already made people forget about its failed predecessor, the Wii U.
Just as Nintendo increased its operating profit forecast for its current fiscal year, the company also raised its Nintendo Switch sales forecast for the period. From the previous estimate of 10 million units, Nintendo now expects 14 million units of the Nintendo Switch sold by the end of March 2018.
In comparison, the Wii U has only sold 13.56 million units since it was launched in November 2012. The sales figure for the Wii U is not exactly a very high bar, as the console has been considered as a failure. However, it is still amazing to see that the Nintendo Switch is on track to outsell the Wii U in just its first year.
After the Wii U, the Nintendo Switch will set its sights on chasing down the success of the Wii. The Nintendo Switch will not be able to match the Wii's 20 million units sold in its first year, but the hybrid console certainly has the potential to match its lifetime sales figure of more than 100 million units.
Nintendo President Tatsumi Kimishima said in a statement that Nintendo has boosted production of the Nintendo Switch to meet the hybrid console's strong demand. The easing supply problems will play a huge role in the device's success and Nintendo's ascension.