Nintendo Hikes Switch Forecast as Hardware Release Expectations Rise 

This photo taken on January 12, 2024 shows a young customer looking at a display for Super Mario by the Japanese gaming company Nintendo, at an electronics store in Tokyo. (AFP)
This photo taken on January 12, 2024 shows a young customer looking at a display for Super Mario by the Japanese gaming company Nintendo, at an electronics store in Tokyo. (AFP)
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Nintendo Hikes Switch Forecast as Hardware Release Expectations Rise 

This photo taken on January 12, 2024 shows a young customer looking at a display for Super Mario by the Japanese gaming company Nintendo, at an electronics store in Tokyo. (AFP)
This photo taken on January 12, 2024 shows a young customer looking at a display for Super Mario by the Japanese gaming company Nintendo, at an electronics store in Tokyo. (AFP)

Nintendo on Tuesday raised its full-year Switch sales forecast to 15.5 million units from 15 million units previously, as the company squeezed sales out of the aging console over the year-end shopping season.

With the hybrid home-portable Switch nearing its eighth year on the market, expectations are rising that Nintendo will release new hardware this year.

"We want to maintain the momentum of the Switch business," Nintendo President Shuntaro Furukawa told an earnings briefing.

The Kyoto-based gaming company sold 13.74 million Switch units in the first nine months of the financial year, an 8% decline on the same period a year earlier.

The lifecycle of the Switch has been extended by a string of hits such as "The Legend of Zelda: Tears of the Kingdom", which launched last May, and "Super Mario Bros. Wonder", which went on sale in October and has sold more than 10 million units.

The Switch, whose iterations include the handheld only Switch Lite and a version with an OLED display, followed the poorly performing Wii U and has total sales second only to the Nintendo DS handheld after passing the Wii.

Nintendo shares closed down 0.5% ahead of earnings and have gained 14% year-to-date.



Apple’s China Market Share Shrinks as Huawei Surges, Data Shows 

A woman walks past a logo of Apple Inc in Wuhan, Hubei province July 24, 2013. (Reuters)
A woman walks past a logo of Apple Inc in Wuhan, Hubei province July 24, 2013. (Reuters)
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Apple’s China Market Share Shrinks as Huawei Surges, Data Shows 

A woman walks past a logo of Apple Inc in Wuhan, Hubei province July 24, 2013. (Reuters)
A woman walks past a logo of Apple Inc in Wuhan, Hubei province July 24, 2013. (Reuters)

Apple's market share in China shrank by two percentage points in the second quarter of 2024, as the tech giant faced intensifying competition from rivals like Huawei, according to data from market research firm Canalys.

The decline underscores the difficulties the US tech giant faces in its third-largest market.

Huawei's smartphone shipments surged 41% year-on-year in the quarter, bolstered by the launch of its new Pura 70 series in April.

The Canalys data, while not providing specific shipment figures for Apple, showed that the company's market share in China dropped to 14% in the second quarter of 2024, a decrease from 16% in the same quarter of 2023.

As a result of this decline, Apple's ranking in the Chinese smartphone market fell from third to sixth place.

Overall, China's smartphone shipments rose by 10% in the quarter, Canalys said. Vivo was the top vendor with a share of 19%, followed by Oppo, Honor and Huawei with 16%, 15% and 15% respectively.

"Domestic manufacturers have demonstrated market leadership, occupying the top five positions in the mainland Chinese market for the first time in history," said Lucas Zhong, research analyst at Canalys.

"On the other hand, Apple faces growth pressure in the Chinese market and is actively focusing on optimizing channel management."

Huawei made a comeback to the high-end smartphone segment last August with the release of a device powered by a domestically-made chip, defying US sanctions that have cut off its access to the global chipset supply chain.

In an effort to boost sales, Apple has ramped up its discounting efforts this year to entice consumers. The US company launched an aggressive campaign in May, doubling the scale of an earlier promotion in February and offering price cuts of up to 2,300 yuan ($318.84) on select iPhone models.

Analysts expect Huawei's strong performance to continue throughout the year. Canadian research firm TechInsights projected earlier this year that Huawei's overall smartphone shipments in China will exceed 50 million units in 2024, with the Pura 70 series accounting for 10 million of those shipments.

That would make Huawei the No. 1 seller with a 19% market share, up from 12% in 2023, TechInsights has said.