Covid-19: Nintendo profits triple as games boom continues
By Tom Espiner
Business reporter, BBC News
Publishedduration5 November 2020shareSharenocloseShare pagelinkCopy linkAbout sharingRelated Topics
- Coronavirus pandemic
image copyrightGetty Imagesimage captionNintendo expects Switch sales this year to be much higher than previous forecasts
Japanese gaming giant Nintendo's profits are soaring as a coronavirus boom in video games continues.
The industry has been enjoying runaway sales during the pandemic as lockdowns and restrictions on movement have left many looking for entertainment.
Sales of Nintendo's Switch console helped profits to more than triple in the half year to end of September.
Rival Sony said last week that pre-release demand for its Playstation 5 was higher than expected.
The video games industry is one of the few sectors that is doing well globally during the pandemic, said Joseph Evans, head of technology at Enders Analysis.
"That is directly linked to people being locked down and having to social distance," he said.
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Global industry sales have topped $10bn (£7.6bn) each month since March, with sales growing each month, he said.
Nintendo is one of the firms riding the crest of this wave, and its games have capitalised on different lockdown trends, Mr Evans said.
Its Animal Crossing games lets users interact in a virtual world, which appeals to people who cannot meet up face-to-face. "You can visit people in the game, and it's become a way to socialise," he said.
Meanwhile, its Ring Fit games tap into people wanting to exercise while at home, he added.