Earlier today, Nintendo revealed their fiscal results for the 9 months ending December 31, 2018.
Before the results were released today, Nintendo aimed to sell 20 million Nintendo Switch consoles by the fiscal year ending March 31, 2019. However, they reduced their target to 17 million systems. If the company didn’t reduce their original target, they would need to sell 6 million systems in 3 months to hit it, which is a huge undertaking.
In a Bloomberg news report, Nintendo President and CEO Shuntaro Furukawa responded to investor worries on the reduction of the Switch target. Furukawa said “I’m not sure why it (Nintendo Switch) is not shipping, but we will look back at what happened and make good use of the next financial quarter. Don’t be too worried.”
Furukawa continued, “we are in the midst of establishing the foundation of the (Nintendo Switch) business. There’s still room for us to increase marketing in the next term.”
Asymmetric Advisors, an investment financial group, said that the results released today were “worse than what we expected”, and stated that “sales aren’t as strong as they should be in the second year. Huge failure.”
What do you think? Let us know in the comments.