Nintendo has become the latest victim of a global chip shortage that is battering supply chains.
The Japanese company reduced its forecast Thursday for sales of its popular Switch console by about 6%. It now expects to sell 24 million units by the end of the fiscal year, which concludes next March, down from a previous projection of 25.5 million units.
It added that"the extended impact of both Covid-19 and the global semiconductor shortage creates a state of continued uncertainty, with the possibility of future impact on production and shipping." The company held its overall forecast for net sales but raised its guidance for profits. It now projects a slight jump in operating profit to 520 billion yen , as well as an increase in its dividend by 60 yen .Sales fell about 19% to 624.2 billion yen compared with the same period the previous year. Profits slumped almost 25% to 219.9 billion yen .
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