Advertise with fastmoving.co.za
 
 

Nintendo shares jump on announcement of the imminent launch of Switch Lite.
Nintendo shares jump on announcement of the imminent launch of Switch Lite.

Nintendo shares jump on imminent launch of Switch Lite

INTERNATIONAL NEWS

Reuters - Jul 16th, 11:38

Shares in Japan’s Nintendo Co rose more than 4 percent last week after the company said it would soon launch Nintendo Switch Lite, a cheaper, handheld version of its hugely popular Switch games. 

The Kyoto-based company said the new device would launch on Sept. 20 at a suggested retail price of 19,980 yen, or $199.99, compared with $299 for the Nintendo Switch.

Nintendo shares had risen on media reports earlier this year of a low-cost version of the Switch console, only to be battered after management appeared to dampen such speculation over the past few months.

In mid-morning trade, Nintendo's shares were up 3.6 percent, while the benchmark Nikkei average .N225 was flat.

“A lower-priced version should stimulate demand,” Jefferies analyst Atul Goyal wrote in a note to clients.

He said the new device directly targets the 75 million owners of Nintendo’s 3DS hand-held device, and that “this lower-priced version should add fuel to fire as this price-point directly targets those” owners.
IOL 

Read more about: switch games | shares | retail | nintendo

Related News

SA "Black Friday" sales expected to rise 30% year-on-year
18/10/2019 - 12:50
South African businesses have begun preparing for what looks to be another bumper Black Friday trading day, with sales predicted to be up 30 percent from last year, online largest payment service provider PayGate said.

Consumers are pushing transformation in the retail industry
18/10/2019 - 10:54
Hearing from some of the best speakers in the retail industry, 480 minutes of thought-provoking and relevant insights, amazing networking opportunities and the exchange of ideas. The realisation that the retail sector is rapidly changing and to survive and ensure sustainability, businesses need to evolve – it is no longer a ‘nice to have’ – it’s a necessity – this was the 2019 SACSC Congress.

Marks & Spencer targets new store concept in bid to drive growth
18/10/2019 - 10:18
For a taste of CEO Steve Rowe’s ambitions to transform Marks & Spencer Group (M&S), look no further than its newly refurbished shop in London’s Clapham neighbourhood.

Retail sales up 1.1% in August
18/10/2019 - 09:28
Measured in real terms, retail sales increased by 1.1% year-on-year in August, following a 2% jump in July, figures released on Wednesday by Statistics South Africa showed.

Ackermans launches futuristic concept store
16/10/2019 - 16:17
Ackermans, one of South Africa’s longest-standing value retailers, launched its first technology-driven concept store in Sandton City, Johannesburg.