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Nintendo’s 1st half sales drop 34% as Switch shows its age
Nintendo said sales for the 1st half of 2024 fell 34.1% to $3.43 billion as it saw a slowdown in sales for Nintendo Switch hardware and games.
And in the mobile and movie-related intellectual property business, sales decreased by 43.3% year-on-year to 31.2 billion yen ($204.8 million), mainly due to the decrease in income from visual content related to The Super Mario Bros. Movie. Meanwhile, R&D expenses went up 15% in the half year — perhaps a sign that the company’s next-generation game console is coming soon. As a result of the weaker quarterly results, Nintendo downgraded its forecast from 1,350 billion yen in the fiscal year ending March 31, 2025 to 1,280 billion yen, down 5.2%.
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