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Thursday, October 27, 2016

Pokémon Go and Nintendo's profit warning... Plus more news on Switch in January

Pokémon Go failed to stop gaming company Nintendo from issuing a profit warning.

Profits are expected to be £235m third lower than expected with the previous predictions of £353m.

Pokémon Go generated a record first month sales of £163m (seven times more than Candy Crush). However sales fell 33 per cent to £1.1m in the six months to the end of September.

Despite this and a strong Japanese yen coupled with poor demand for its Wii U hit Nintendo's profits.

Amazingly Nintendo don't own Pokémon Go they only have a 13 per cent stake. US firm Niantic owns the majority share.

The Wii U was launched in 2012 and next years launch of the Nintendo Switch the handheld that doubles as a home console may help Nintendo's finances in 2017.

Nintendo will make a major announcement with more details of the Nintendo Switch in January 2017. we already know that the latest Zelda game (Legend of Zelda: Breath of Wind) looks great on the Switch and Nintendo hope this will boost demand for the new system.

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