Nintendo lowers sales forecast after quarterly result Switch console

TOKYO/OSAKA, Japan (Reuters)-Nintendo cut this Thursday the Switch console sales forecast, revising a number that had been viewed with skepticism by investors and adding pressure on the company's share price. The company said it now expects to sell 17 million Switch consoles in the year that ends in March compared with previous estimate of 20 million. Nintendo also revised down the sales of portable projection 3DS, signaling the company's need to find new sources of revenue. "We don't work hard enough to convince consumers about the advantages of the Switch," said the Chief Executive of Nintendo, Shuntaro Furukawa.Ao same time, Nintendo upped the sales forecast for the Switch to 110 million units before 100 million estimated earlier, announcing that titles like "Super Smash Bros. Ultimate" and "Pokemon: Let's Go have achieved sales of 10 million copies each. Nintendo had operating profit to 158.6 billion yen (1.46 billion dollars) in the quarter from October to December, the highest in nine years. The performance was above the average analyst expectation of 149 billion yen, according to data from Refinitiv. Nintendo shares accumulated fall of 29% last year amid investors ' doubts about the ability of the Switch to achieve public of avid players and about the portfolio announced. Despite this, renewed enthusiasm after the publication of numbers of games sold for the console helped the action to accumulate 16% recovery so far this year. Nintendo reported that 14.5 million to Switch consoles sold in the period from April to December and 94.6 million games for the device. The company, however, cut his sales forecast of the 3DS handheld console from 4 million to 2.6 million units. The need to minimize the drop in sales of the 3DS has generated speculation that Nintendo will launch a new appliance, like a cheaper version of the Switch. " Although it is true that demand fell more than expected, to children the 3DS is lightweight and has advantages in terms of price, "said Furukawa. "We want to continue with the 3DS and the Switch", said the Executive.