As the Nintendo Switch continues to dominate the gaming world with approximately 3 million units being sold since it’s launch, a shortage of the gaming console in the UK has caused the video game retailer GAME to warn investors that their profits for the financial year will be below expectations. The video game retailer is blaming their shortcomings in their performance on the shortage of the Nintendo Switch due to the very large demand for the gaming console and low supply of consoles GAME has been able to provide for their customers.
The Nintendo Switch’s competitors the Xbox One and the PlayStation 4 have also contributed to the financial challenges GAME is facing due to the decrease in demand for the two consoles. The company has since stated, “consumer demand for Nintendo Switch has been, and remains, very strong, however the level of supply to the UK market has been lower than expected. These lower levels, combined with the continued softness in our core Xbox and PlayStation markets, have impacted sales.”
Game has also stated that they anticipated a tough financial year but did not believe that the shortage of availability of the Nintendo Switch and expected to have overall positive sales performance during the second half of the year. The hindrance in sales has caused the company’s share price to decrease by nearly 30 percent, the company is now expecting to benefit from Switch sales in the upcoming year and hopes able to meet demands that they were unable to meet this year, as well hoping that Microsoft’s newest console the Xbox One X is a hit among gamers.
As the Nintendo Switch continues t receive positive reviews and with new upcoming titles such as Super Mario Odyssey and Red Dead Redemption 2 being released for it GAME hopes that they will be able to meet the expected growth in demand when the new games for the Nintendo Switch release. The company also hopes that the interest building around the Xbox One X will be beneficial due to the various updates and advances in the system’s hardware from the previous Xbox One models. Due to the upcoming release of games, GAME believes that this will cause an increase in demand for the consoles that the company will be able to meet these demands and return growth to the UK software industry in the upcoming financial year. Happy gaming!
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