GAME (OVER) BOY: Nintendo SWITCH Hit by Chip Crisis

Nintendo on Thursday cut its full year Switch sales forecast by 6% and said it is struggling to meet demand in the key year-end shopping season as chip shortages disrupt production of the hit device.

While many companies have warned of the risks posed by the global semiconductor shortage, most have stopped short of cutting targets.

“We can’t produce enough to meet the demand we are expecting during the upcoming holiday season,” Nintendo President Shuntaro Furukawa told a news briefing as the Kyoto-based company revised down its Switch sales target to 24 million units.

“Currently there is no sign of improvement and the situation continues to be severe so I can’t say how long it will continue,” he said.

Second-quarter operating profit tumbled 32% from the same period a year earlier to 100 billion yen ($880 million), but the gaming firm lifted its annual forecast 4% to 520 billion yen, helped by a weaker yen.

Sales of the Switch device – now in its fifth year on the market – slumped by a third to 8.28 million units in the six months to end September from the same period a year earlier.

www.cnbc.com/amp/2021/11/04/nintendo-cuts-switch-sales-forecast-on-chip-shortage.html

h/t Anon Braveheart