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Nintendo said on Wednesday 8th November 2023 it plans to develop a live-action film of The Legend of Zelda, one of its most popular game franchises.
Nintendo has been encouraged by the success of The Super Mario Bros. Movie which has generated more than $1 billion at the box office since its April 2023 release.
Nintendo shares surged 6% in Japan on Wednesday 6th November 2023 on the Zelda movie news, and after the company raised its sales and profit forecast for the fiscal year.
Nintendo reported better-than-expected sales and profit for fiscal Q2 on Tuesday 6th November 2023 as it continues to benefit from the Zelda game released this year and from the Super Mario Movie.
Nintendo said it sold 6.84 million Switch consoles in the April to September period, up 2.4% year-on-year. The company maintained its forecast for 15 million Switch unit sales. The Nintendo Switch is 6 years old – pretty good going for an old console.
Nintendo raised its sales and profit forecast for its current fiscal year. Nintendo’s revenue fell 4% year-on-year and its profit dropped 19%.
Sales in the first half of the fiscal year were the largest since the launch of the Switch, Nintendo reportedly said in a statement.
Nintendo Co. has reported a new high for its first-quarter profit, thanks to the blockbuster launch of its latest Legend of Zelda game.
The Legend of Zelda: Tears of the Kingdom, released in May 2023, sold more than 18.5 million copies in the first quarter and received universal acclaim. The game features an open-world adventure with stunning graphics and gameplay, and is considered one of the best titles on the Switch platform. Interestingly, the game is played offline.
The outstanding performance of Zelda has helped Nintendo prop up flagging sales of its Switch console, which is now in its seventh year on the market and faces competition from rival console makers Sony Group Corp. and Microsoft Corp. Nintendo has not announced any major games for the rest of the fiscal year, nor has it revealed any plans for a successor to its flagship console.
Nintendo maintained its full-year forecast for the console of 15 million units, which would be an impressive feat at this stage of the console’s lifecycle. The company also has a strong pipeline of titles for the year-end shopping season, including Detective Pikachu Returns and Super Mario Bros. Wonder.
Nintendo saw a boost from the ‘The Super Mario Bros. Movie‘, based on the company’s best-known characters, which has generated more than $1 billion at the box office since its April release. The film was produced by Universal Studios.