Jul 11, 2016 09:14 AM EDT
'Pokémon Go' Boosts Nintendo Shares Up To 10% Following Its Launch; Might Indicate It Has Its Eye On The Mobile Industry
The "Pokémon Go" launch boosted Nintendo's shares at up to 10 percent, a day after the game's launch.
Nintendo experienced a 10 percent increase of its shares following the launch of "Pokémon Go" last week, The Guardian reported.
The game company seemingly takes in the spoils despite it was not directly involved in the game; the new popular game was developed by a company named Niantic Labs, although Nintendo still owns 33 percent of the Pokemon company.
The 10 percent boost had left the company's market value raise up to $23 billion. The newly released game had also claimed the top spot in Apple's iTunes store, both in the free app category, as well as the highest-grossing category.
Topping both categories may seem contradictory, but this is due to the actual app being a free download, as well as has in-app purchases that resulted in it qualifying for both categories, according to Game Spot.
The feat ensures Nintendo's future in the quarterly revenues, as it was previously predicted by industry analysts that it could register a loss as it seemed it will struggle with the console gaming market.
Analysts had hailed the boost of the game company's shares as "Pokémon Go" had only been launched in a few countries, which could very well be headed to become another worldwide phenomenon in terms of game revenue, Reuters reported.
It seems that Nintendo is now focused into strengthening its mobile game department, although it had announced a new console in development in the form of the Nintendo NX. The company had been adamant in maintaining its number of published native games, which is made exclusively to work on the 3DS and the Wii U.
In recent years, Nintendo seemed to have struggles in its intended markets, but it has become apparent that it is ready to cash in its vast collection of characters, and it looks to be pulling it off. "Pokémon Go" is set to be released in more countries, and it would seem that the numbers would only go up.
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