Nintendo shares slump after Switch sales projection cut
FILE PHOTO: People stand in front of Nintendo's logo in Tokyo, Japan January 13, 2017. REUTERS/Kim Kyung-Hoon
TOKYO : Shares in Nintendo Co Ltd were down 6.5 per cent in early trade on Wednesday after the Japanese videogame giant cut its annual sales projection for its Switch console by nearly 10 per cent citing the lingering shortage of chips.
The Kyoto-based company on Tuesday raised its annual net profit forecast thanks to a weaker yen but missed analysts' bullish forecasts.
Source: Reuters
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