Switch OLED Shines! Nintendo Surpasses Q3 Forecasts with Record Profit

Nintendo has disclosed its financial report for the third quarter of the fiscal year 2024, ending December 31, 2023, revealing that the revenue for the first three quarters of this fiscal year reached 1.3947 trillion yen, marking a 7.7% increase year-over-year. Operating profit soared to 464.4 billion yen, a 13.1% rise from the previous year, both figures surpassing market expectations.

Revenue related to gaming consoles, encompassing both hardware and software as well as additional content, totaled 1.3109 trillion yen, up 4.7% year-over-year. Domestic sales in Japan accounted for 21.3% of the total, while international markets contributed to 78.7%. During the first three quarters of this fiscal year, Nintendo sold 13.74 million hardware units, a decrease of 7.8% compared to the same period last year. Of these, the Nintendo Switch sold 3.4 million units, experiencing a significant drop of 34.9%, while the Nintendo Switch OLED model saw sales of 8.17 million units, an increase of 6.2%. The Nintendo Switch Lite model sold 2.18 million units, marking a 9.1% increase.

Furthermore, software sales in the same period amounted to 163.95 million units, a decrease of 4.7% year-over-year. Notably, “The Legend of Zelda: Tears of the Kingdom,” released last year, has achieved cumulative sales of 20.28 million units. Subtracting the 19.5 million units recorded at the end of the previous quarter, this indicates a robust sales performance of 780,000 units in the past quarter alone.

To date, the cumulative sales of the Nintendo Switch have reached 139.36 million units, with game sales totaling 1.21 billion units. The ultimate sales figure of the Nintendo Switch remains a topic of fascination; based on current trends, it is projected to surpass Sony’s PlayStation 2 to become the best-selling home gaming console in history sometime next year. To this point, the PlayStation 2 holds the record with cumulative sales of 155 million units, followed closely by Nintendo’s NDS series, with approximately 154 million units sold.