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Nintendo Reports Profit Rise Despite Sales Slump, Ocarina of Time Remake Surpasses Expectations
· Confirmed
In Short: Nintendo reported an 11% increase in net profit for the first half of its fiscal year, reaching 220.9 billion yen ($1.4 billion), up from nearly 199 billion yen in the same period last year.
Nintendo reported an 11% increase in net profit for the first half of its fiscal year, reaching 220.9 billion yen ($1.4 billion), up from nearly 199 billion yen in the same period last year.
Sales, however, dropped 12% to 966 billion yen, with Switch 2 console sales falling 37% year-over-year to 6.49 million units.
The game, originally released in 1998 for the Nintendo 64, has been remade for the new console, featuring updated graphics and gameplay.
Nintendo's president, Shuntaro Furukawa, stated that the company has secured enough memory to manufacture more Switch 2 consoles, addressing supply chain issues.
The remastered 'Ocarina of Time' is available for digital download at $59.99 or $69.99 for a physical copy, and it has been selling faster than expected, with stores running short.
The game's inventory system has been updated to match the style of recent Nintendo Switch titles, and it includes a new controller for $49.99 at Best Buy.
The Legend of Zelda: Ocarina of Time remake has been well-received, with some players spending over 30 hours exploring the game's secrets.
Nintendo has no current plans to raise the price of the Switch 2, which remains at $449.99.
Background
Nintendo released a remake of The Legend of Zelda: Ocarina of Time for the Nintendo Switch 2, aiming to attract both nostalgic fans and new players.
What's confirmed
- Nintendo’s president has said they are not considering another price increase for the Switch 2.
- CNET reports that the Nintendo Switch 2 – The Legend of Zelda – 40th Anniversary Edition costs $519.99 and that Nintendo’s own listing shows it sold out.
What's still developing
- Like other technology companies, Nintendo is facing the problem of a computer chips crunch and surging prices due to the recent global boom in artificial intelligence.
- Nintendo’s digital sales, including proceeds from downloadable games, continued to surge.
- Companies like Nintendo tend to record their biggest sales during the present-giving Christmas and New Year’s seasons.
- The segment, which aired on October 3, highlighted how different the two games are: Link, in his green tunic, described how he started his day in Hyrule by buying magic beans and playing his ocarina, a wind instrument.
- Speaking of memory, Nintendo said today that there has been no major change to the memory situation.
- The RAM crisis is pushing video game hardware makers to reassess release dates and price points Last week, Nintendo president Shuntaro Furukawa told shareholders that the house of Mario had no current plans to raise the price of its $449.99 Switch 2.
- So far, results show that the game is outselling GTA 6 in some areas, and even Nintendo appears to be shocked by the demand for the title.
- Art director Aya Shida and series producer Eiji Aonuma set out the thinking in Part 2 of Nintendo’s Ask the Developer interview, published on 2 November.
- Critical Leap and developer Mother Gaia Studio have announced that The Posthumous Investigation will be released for Nintendo Switch.
- The game launched in Japan for Nintendo 3DS and worldwide for iOS and Android devices in July 2017.
- The new footage arrives ahead of the remake’s November 5 launch on Nintendo Switch 2, offering a closer look at how Nintendo is rebuilding one of its most celebrated Zelda adventures.
- Nintendo showed how the figures’ character designs correspond with the updated versions appearing in the “Ocarina of Time” remake.