Nintendo doubles quarterly sales after Switch Lite made immediate impact

Nintendo Co Ltd doubled its posted earnings in the second quarter as booming Switch Lite drew strong demand in the market.

4.98 million units of Nintendo Switch were sold in six month ending in September and 1.95 million units were accounted for Switch Lite which was launched in September.

CEO Shuntaro Furukawa said that it would be premature to raise Nintendo’s annual hardware sales forecast for Switch from 18 million units.

Nintendo, amid success in hardware products sales, is facing tougher competition from various smartphone apps and video streaming.

Nintendo posted profit markers for July-September (second) quarter of about 66.8 billion yen ($615 million) from a 30.9 billion yen in 2018.

On Thursday, Nintendo’s shares rose by 0.3% prior to profits announcement. This year, the stock has gone up by 32%.

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