Nintendo Chills Mobile Ambitions After Animal Crossing Success
- Company has been underwhelmed by return on its mobile efforts
- Betting that it can best capture gaming growth on own platform
Animal Crossing
Source: Nintendo Co.
Nintendo Co. is retreating from the $77 billion mobile gaming arena after disappointing results deflated once-lofty ambitions, ending a multiyear effort just as the market goes through an unprecedented Covid-era boom.
President Shuntaro Furukawa proclaimed two years ago that smartphone games would be a $1 billion business with growth potential, building on his predecessor’s promise that Nintendo would release two to three mobile titles each year. That spurred hopes among investors that the gaming powerhouse could carve out a substantial slice of the market. In May, however, the president adopted a markedly different tune, saying “We are not necessarily looking to continue releasing many new applications for the mobile market.”