Nintendo doubles FY sales after selling 15 million Switch gaming devices

Nintendo appoints new boss as it posts a bumper 500% increase in operating profit

Nintendo President Retires as Revenue Doubles

Nintendo has announced that its current president, Tatsumi Kimishima will step down from his role leading the company. Yoshiaki Koizumi, Takashi Tezuka, and Hajime Murakami will all be joining the board in June as the Switch is suddenly making the company feel young again with its success. He takes over as the strong results and outlook underscore Nintendo's confidence that it has worked out the Switch's first-year production kinks and can attract buyers from beyond the hybrid console's core base.

Nintendo, which brought the world the FamiCom game machine in the 1980s, is projecting profit for the fiscal year through March 2019 to grow 18 percent to 165 billion yen ($1.5 billion).

Sony, a rival to Nintendo in the video game market, announces its full-year results on Friday. The best performers were Super Mario Odyssey with 10.41 million units sold, Mario Kart 8 Deluxe with 9.22 millions sales, and Splatoon 2 with 6.02 million units.

Even the retro SNES Classic console sold in number, too, with sales of 5.28 million.

Nintendo has received some very alarming news, at least for the company, as hacking groups have found a way to hack the console's system through a bug in the processor chip, meaning this bug is not fixable via firmware updates.

Nintendo added that it predicts it will sell 20 million more Switch units this fiscal year and 100 million games for the same period. Breath of the Wild is next, with 8.48 million lifetime sales, 572 million of which came in this latest fiscal year.

Combined Switch software unit sales for the 2017 fiscal year reached 63.51 million units.

Quarterly sales rose 12 percent year-on-year to 198.7 billion yen ($1.8 billion).

In total, Nintendo's total assets have increased to 1663.7 billion yen (£10.7 billion) with operating profits increasing to 177.5 billion yen (£1.1 billion).

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