Nintendo's profits soar by 500% thanks to massive success of Switch console

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Nintendo's Switch Puts Profits Back on Course to Wii-Era Levels

To make that massive surge in profits, Nintendo flogged 17.79 million Switches since its launch.

The 46 year old executive will be taking charge of the company despite his relatively young age and being a somewhat unknown senior executive.

He also talked about bringing Nintendo out of status quo: "I grew up playing the Famicom and come from that generation".

Things are equally impressive on the software side of things, where the company revealed that there have been 68.97 million units sold so far.

Nintendo estimated profit to reach 225 billion yen (US$2.06 billion) from 177.56 billion yen a year prior.

In a few month's time, the Switch should also be able to sell more units than both the Nintendo Gamecube and the Nintendo 64. Still, that isn't to say that Breath of the Wild hasn't been a smashing success for Nintendo, claiming 8.48 million units sold for itself.

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Games for Switch are still popular despite slower sales.

Nintendo typically posts conservative guidance, and this coming year is no exception. If achieved, it would be Nintendo's highest operating profit since the year ended March 2010. However, that's still below analysts' average estimate for ¥308.6 billion.

With the likes of Bayonetta 3, Super Smash Bros and other Nintendo titles on the way, year two of the Nintendo Switch seems to be robust for many a fan.

Nintendo has been on a winning streak, with its Switch console flying off the shelves since its launch past year. The revenue increased 116 percent to 1.06 trillion yen ($9.66 billion). Income primarily attributed to Pokemon Go fell to 10.3 billion yen from 20.3 billion yen a year ago.

As Nintendo president Tatsumi Kimishima retires, you'd forgive him one last Scrooge McDuck-esque dive into Nintendo's rapidly replenishing vaults of gold.

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