Nintendo Shares Plunge After SNES Announcement

Kendrick Barnes June 28, 2017
Nintendo Shares Plunge After SNES Announcement

Despite its ongoing success following the release of the Nintendo Switch, Nintendo Co has announced recently that it will be relaunching the 1990’s hit console Super Nintendo Entertainment System which happens to be a smaller device that comes with twenty-one pre-installed games and two controllers.

Although the return of the classic and reminiscent childhood consoles seems to appeal to the masses, investors were unimpressed with the device comebacks after Nintendo shares plunged 1.8% during Tuesday’s trading session.

However, some have commended the company for its revival of the first generation machine stating that it would support the success of their latest Switch console. Analysts also stated that buyers who will not be able to get their hands on the Switch might opt for the SNES Classic Edition or vice-versa although most investors are expecting the SNES classic to sold out first.

The SNES retro machine is expected to be sold starting September 29 in the United states and Europe and will be launched shortly afterwards in Australia, Japan, and other regions. The device will be priced at around $80 and will include a never-before released Star Fox sequel which was one of the console’s original space-fighting games.

The release is expected to be as successful as Nintendo’s first NES or FAMICON console which was released last year. It was a huge hit among users last year especially during the holiday season. Nintendo received a demand of more than 1.5 million units for the console during the last two months of 2016. According to Nintendo, the demand for the SNES is expected to be higher than the NES. The NES was sold last year initially at $60 but was later resold online on eBay and other sites from $165 to $200 due to its popular return.

The company has reportedly been ramping up its production for almost 10 million in global consumers. The company is currently been trying to keep up with the rising demand for its latest Switch console which sold out during the first month of its initial release. Nintendo stated that the Switch system will remain to be the company’s focus along with serving over 63 million Nintendo 3DS family system users all over the world.

On the other hand, the company is currently enjoying the success of the Switch system and has boosted its production by 18 million units set to be completed before the end of the current fiscal year. Just recently, the company announced that it would allow a number of third-party games to be included in the next release of Switch games.

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Kendrick Barnes


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