Nintendo hikes forecast for Switch sales to 26.5 million units

Nintendo Co Ltd on Monday upgraded the full-year sales forecast for its Switch console to 26.5 million units from 24 million units previously after a great end to the year for the hit device.

The Japanese firm said it sold 24.1 million hardware units in the first nine months of the financial year ending in March 2021 which is more than its previous full-year forecast.

The sales comprises 16.8 million hybrid home-portable Switch consoles and 7.3 million portable-only Switch Lite devices.

Operating profit in the nine months ended December was 521 billion yen ($4.98 billion), doubling from 263 billion yen a year earlier.

Investors are weighing if Nintendo can retain its momentum this year amid anticipation of big name releases after its pipeline was padded in final months of last year with remastered titles from franchises like “Super Mario” and “Pikmin”.

Nintendo shares closed up 3.4% at 62,640 yen ahead of the earnings release after reaching a 13-year high of 67,600 yen in mid-December.

Nintendo faces competition from next generation devices from Sony Corp and Microsoft Corp. Both devices are in short supply globally in the face of overwhelming demand.