Nintendo Sees Sharp Drop in Sales, but Solid Switch and Software Sales
Nintendo's sales and revenue fell sharply in the current quarter, but this is also due to the comparison with a strong previous year. However, the Switch's hardware and software are still performing solidly in its eighth year.
Nintendo has released its financial report for the first quarter of the current fiscal year, from April to June. Its sales decreased 46.5 per cent year-on-year to 246.6 billion Yen (approximately 1.53 billion Euros), ordinary income decreased 55.3 per cent year-on-year to 113.4 billion yen (704 million Euros), and net income attributable to owners of the parent decreased 55.3 per cent year-on-year to 80.9 billion yen (502 million Euros). "Overall sales declined during this period despite the continued weakness of the yen, due to a year-on-year decline in unit sales for both Nintendo Switch hardware and Software," the company states. However, the sharp year-on-year decline is also due to the fact that the previous year's quarter was very strong, with The Super Mario Bros. Movie driving sales and The Legend of Zelda: Tears of the Kingdom being released shortly afterwards. Nintendo: "There were no such special factors in the first quarter of this fiscal year, and with Nintendo Switch now in its eighth year since launch, unit sales of both hardware and software decreased significantly year-on-year."