One of the few markets that have recorded tremendous statistics during the pandemic is the video games industry.
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During the shutdowns and bans on travel due to covid19, the sector witnessed runaway sales, as people looked for entertainment. By the end of September, sales of Nintendo’s Switch console increased revenue to more than triple.
Another gaming giant, Sony recently announced that prerelease demand for its Playstation 5 surpassed forecasts. Since March, gaming industry revenues have officially exceeded $10 billion per month, with numbers rising every month.
Nintendo has been one of the leaders of the industry and its games have profited from multiple lockdowns.
Nintendo Animal Crossing games allow people to engage in a virtualized world that appealed to consumers who were stuck in a lockdown.
In the meantime, it is noted that Ring Fit games tap into folks wanting to workout while at home. In terms of hardware, the main seller for Nintendo was its Switch consoles, which shipped 12.5 million units during its first half.
Sales of Switch software have boosted, with 14.27 million units sold. Nintendo said this added massively in software revenues and fuelled sales of hardware.
In the six months to 30 September, Nintendo’s pre-tax profit rose to almost 300 billion yen, up from 85 billion yen in the same timeframe a year earlier. Next week, Sony and Microsoft are set to reveal next-generation consoles, to rival Switch.
However, in the year ending March 2021, Nintendo increased its estimate for Switch sales, It now plans to sell 24 million consoles, 26 per cent higher than the previous 19 million estimates.
