Nintendo Hikes Profit Forecast as Switch Battles On 

People look at merchandise on display at a Nintendo store in central Tokyo on November 6, 2023. (AFP)
People look at merchandise on display at a Nintendo store in central Tokyo on November 6, 2023. (AFP)
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Nintendo Hikes Profit Forecast as Switch Battles On 

People look at merchandise on display at a Nintendo store in central Tokyo on November 6, 2023. (AFP)
People look at merchandise on display at a Nintendo store in central Tokyo on November 6, 2023. (AFP)

Nintendo on Tuesday raised its operating profit forecast for the financial year ending March by 11% to 500 billion yen ($3.32 billion) as its aging Switch console continues to attract gamers.

The Kyoto-based gaming firm has extended the lifecycle of the hybrid home/portable device, now in its seventh year in the market, through a series of heavy-hitting games.

Nintendo sold 6.84 million Switch units in the first six months of the financial year, a slight increase on the 6.68 million units it sold in the same period last year.

Critically acclaimed titles this year include "The Legend of Zelda: Tears of the Kingdom", which went on sale in May, and "Super Mario Bros. Wonder" which launched in October.

Nintendo's broad pop culture appeal has also been underscored by the success of a Super Mario Bros. movie.

Nintendo maintained its full-year forecast for the console of 15 million units, which would be a 16.5% decline on a year earlier.

This year has been a stand-out one for the release of new games across the industry, after the pandemic caused widespread disruption to development.

Nintendo's line-up for the critical year-end shopping season will likely also be bolstered by some new additions including "Super Mario RPG", which launches on Nov. 17.



Facebook-Parent Meta Settles with Australia’s Privacy Watchdog over Cambridge Analytica Lawsuit

The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. (Reuters)
The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. (Reuters)
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Facebook-Parent Meta Settles with Australia’s Privacy Watchdog over Cambridge Analytica Lawsuit

The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. (Reuters)
The logo of Meta Platforms' business group is seen in Brussels, Belgium December 6, 2022. (Reuters)

Meta Platforms has agreed to a A$50 million settlement ($31.85 million), Australia's privacy watchdog said on Tuesday, closing long-drawn, expensive legal proceedings for the Facebook parent over the Cambridge Analytica scandal.

The Office of the Australian Information Commissioner had alleged that personal information of some users was being disclosed to Facebook's personality quiz app, This is Your Digital Life, as part of the broader scandal.

The breaches were first reported by the Guardian in early 2018, and Facebook received fines from regulators in the United States and the UK in 2019.

Australia's privacy regulator has been caught up in the legal battle with Meta since 2020. The personal data of 311,127 Australian Facebook users was "exposed to the risk of being disclosed" to consulting firm Cambridge Analytica and used for profiling purposes, according to the 2020 statement.

It convinced the high court in March 2023 to not hear an appeal, which is considered to be a win that allowed the watchdog to continue its prosecution.

In June 2023, the country's federal court ordered Meta and the privacy commissioner to enter mediation.

"Today's settlement represents the largest ever payment dedicated to addressing concerns about the privacy of individuals in Australia," the Australian Information Commissioner Elizabeth Tydd said.

Cambridge Analytica, a British consulting firm, was known to have kept personal data of millions of Facebook users without their permission, before using the data predominantly for political advertising, including assisting Donald Trump and the Brexit campaign in the UK.

A Meta spokesperson told Reuters that the company had settled the lawsuit in Australia on a no admission basis, closing a chapter on allegations regarding past practices of the firm.