Nintendo hikes annual profit forecast

Nintendo upgraded its full-year net profit forecast on Thursday despite a weaker performance in the first half as the coronavirus lockdown-fueled global gaming boom slowed.

It also hiked its software sales forecast for this fiscal year ahead of releases including three titles in the popular Pokemon franchise. However, Nintendo lowered its annual target for Switch sales as Japanese media reported that production would be hit by the global chip shortage. The extraordinary demand experienced by gaming hardware makers during pandemic lockdowns is slowing as life returns to normal in many countries.

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