TOKYO -- Nintendo is forecasting a 29% drop in net profit for the year ending March 2022 as the pandemic-fueled gaming boom eases, with its popular Switch gaming console expected to face a slowdown in sales.
The Kyoto-based gaming company announced on Thursday that it anticipates annual net profit to decline to 340 billion yen ($3.1 billion) compared with a year earlier, which saw unprecedented demand for gaming early on in the COVID-19 pandemic and helped Nintendo log a record net profit of 480 billion yen.
