Nintendo Stock Jumps After Switch Approval in China
Nintendo stock had a sharp increase once word got out about the Switch getting approval to be sold in China.
The Nintendo Switch has been a resounding success since its release just over two years ago in March of 2017. It has broken numerous records and has become one of the fastest selling pieces of gaming hardware in history. However, they have still not broken into one of the largest gaming markets in the world. Well until now.
Since the recent announcement of the Switch getting approved for sale in China, Nintendo shares have skyrocketed. Reuters reports that the Japanese gaming company saw its stock increase by 17% on the Tokyo Stock Exchange. This was the biggest gain in percentage since July of 2016 – Pokemon Go had just released that summer. On top of that, this is the highest the stock has been since October of last year.
This will be the first time the Nintendo Switch will be readily available for purchase through legal means in the country. However, it is a bit unclear if there will be further Chinese government approval needed or when the console will actually release in the country. The Switch version that is planned to release in China will include a “test” version of Super Mario Bros U. Deluxe.
While it might not be apparent to many, China is one of the largest gaming markets in the entire world. It is incredible how well the Switch has been selling, but imagine what those sales figures could have looked like selling to the biggest country on earth. If I was a betting man, Nintendo is about to see a jump in sales when the console releases.