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Players, investors snap up Nintendo

Friday, March 03, 2017 - 01:31

Nintendo Switch launches to crowds of eager video gaming fans but some analysts are still cautious about the tech company's prospects. Sara Hemrajani reports.

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A strong showing for Nintendo's latest gadget. Shoppers lined up in Tokyo to get their hands on Switch. The tech giant's hybrid-style console promises a seamless experience for those playing at home, on the move and with friends. (Soundbite) Kozaki, university student, saying (Japanese): "I like the concept you can carry it anywhere. It also features all the up-to-date technologies, so I'm eager to see how it works." Investors were excited as well, sending Nintendo's share price soaring as much as 3.6 percent. But the company has been struggling in recent years with tough competition from PlayStation, Xbox and mobile games. Some analysts wonder whether Nintendo really can make a sustained comeback. (Soundbite) Chris Beauchamp, IG analyst, saying (English): "It looks as if, really, the landscape is shifting beneath their feet and that their new console is still well behind a number of competitors in terms of its features. It had a decent pop last night in terms of share price but, as we learn with Snap and other major events like that, you get the enthusiasm but once that dies away, cold hard reality tends to set in." In January, Nintendo slashed its full year operating profit outlook by a third. But it's betting on Switch to help ease that pain, saying it expects to ship around 2 million units by the end of the month.

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Players, investors snap up Nintendo

Friday, March 03, 2017 - 01:31