• SHARE

Nintendo Co. is retreating from the $77 billion mobile gaming arena after disappointing results deflated once-lofty ambitions, ending a multiyear effort just as the market goes through an unprecedented boom sparked by the coronavirus.

President Shuntaro Furukawa proclaimed two years ago that smartphone games would be a $1 billion business with growth potential, building on his predecessor’s promise that Nintendo would release two to three mobile titles each year. That spurred hopes among investors that the gaming powerhouse could carve out a substantial slice of the market. In May, however, the president adopted a markedly different tune, saying “We are not necessarily looking to continue releasing many new applications for the mobile market.”

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)