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Nintendo rises sharply for third consecutive session on smartphone app announcement
Nintendo Co., Ltd. <7974> rose sharply, marking its third consecutive day of gains. The company had previously faced concerns over deteriorating profitability of its gaming consoles due to surging memory prices, which weighed on the stock. After the close of trading on the 8th, Nintendo announced a price increase for the "Nintendo Switch 2" along with its earnings results. While the stock tested lower levels on the following trading day, it showed signs of bottoming out around the 7,000 yen price range. Against this backdrop, on the 19th, Nintendo announced via its official X account that it will release the smartphone app "Pictonico!" on the 28th. The app transforms photos taken by users into interactive mini-games, and pre-registration began today. Amid profit-taking in semiconductor memory-related stocks both domestically and internationally, the surprise announcement of the smartphone app appears to have served as a catalyst for Nintendo's shares.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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