Nintendo managed to sell 7.23 million units of its Switch console this holiday quarter, which marks a twofold increase in the total number of consoles sold until now. With 14.86 million consoles sold by the end of last year, Switch surpassed Wii U in sales in less than a year being on the market.
The Switch’s predecessor, Wii U, entered the market in the fall of 2012 and sold 13.56 million consoles until the Japanese videogames maker discontinued it in early 2017.
The Switch’s popularity is tightly connected to the popularity of the latest Switch titles like the Super Mario Odyssey (more than 9 million sold copies), Mario Kart 8 Deluxe (7.33 million), and The Legend of Zelda: Breath of the Wild (6.70 million).
Nintendo now expects its operating profit to jump 33 percent by March. The annual revenue is estimated at $9.38 billion. In April, the company will launch the much-anticipated Labo cardboard accessories.
With these numbers in mind, the Japanese company reported its largest operating profit for Q3 in the last 8 years. Nintendo expects annual earnings to exceed analysts’ expectations as well.
Nintendo Switch Sales Beat All Expectations
Nintendo shares’ price have nearly doubled and hit the highest level in nine years since the Switch was launched in March 2017. Sales have also beaten all expectations, with the impressive demand creating a shortage of parts at some suppliers.
The company’s Q3 operating profit is $1.07 billion, which marks a fourfold jump from last year’s levels for the same period. It is the highest third-quarter operating profit since 2009 for Nintendo.
The Kyoto-based company’s president Tatsumi Kimishima said Wednesday that Switch sales beat all expectations in Japan, Europe, and the United States. Nintendo now expect sales to jump to more than 20 million starting in April.
Nintendo now heavily relies on the Switch to make profit, but it plans to tap new revenue sources like theme parks packed with its popular characters or smartphone apps.
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