Nintendo shares touched a nine-month high

Nintendo shares touched a nine-month high yesterday after the video game group unveiled a cheaper version of its Switch console. Investors hope that the device, Switch Lite, will boost demand for the original console, which has sold about 35 million units since its 2017 launch. It has a library of about 2,000 games – including titles based on its popular ‘SuperMario’ and ‘Legend of Zelda’ franchises – most of which will be compatible with the Switch Lite. The Lite version, set to be released on September 20, will sell for $199.99. It comes with more basic features than the current Switch, which combines handheld and living room-based gaming… The stock closed 4 per cent higher at ¥41,660 ($385)… Analysts said the Lite was aimed at users who had bought a 3DS, Nintendo ’s older handheld system, but had yet to upgrade… Nintendo shares have returned 41 per cent year-to-date, versus 5 per cent for Japan’s benchmark Topix. The stock has been boosted not only by expectations of the cheaper version of the Switch, but by the prospect of Nintendo deepening its presence in China, where it has been wary, via a tie-up with Tencent. Still, Nintendo faces rising competition. In May, rivals Sony and Microsoft said they would collaborate on games and content streaming. Google and Apple also have plans to release their own game-streaming services.
Daniel Shane