TOKYO: Japanese gaming company Nintendo Co Ltd on Tuesday reported a 10 per cent decline in quarterly profit, far wide of market expectations, as a rise in costs dulled stronger sales of its hybrid home-portable Switch console.
Looking to offset declining sales of its aging 3DS handheld console and expand beyond its core fanbase, Nintendo will in September launch the Switch Lite device, which cuts unit costs by dropping the Switch's TV dock and detachable controllers. The launch comes as the famously secretive Kyoto-based gaming company shows signs of greater openness, tying up with mobile game developers for smartphone-based titles like Mario Kart Tour, which is due to be released this summer in partnership with DeNA Co Ltd.
Last week, Tencent said it will work with Nintendo-backed The Pokemon Company on a new game, in a partnership that could capitalise on the popularity of Japanese characters in China.
Source: News Formal (newsformal.com)
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