Switch boosts Nintendo’s stock price to seven-year high

A product display featuring the Nintendo Switch. (Facebook/NintendoSwitch)

Nintendo’s flagship console Switch continues to reach new heights. Barely two months since its release, the company continues to reap the fruits of its success.

According to a report by Gamespot, Nintendo’s share price has reached a seven-year high. This is all reportedly thanks to the console becoming the tech giant’s fastest-selling system in history. The company’s stock value rose to ¥31,880 ($284), which is a 102% increase year-over-year. The increase was also the company’s highest since it released the Wii console in 2006.

The Switch dominated in terms of sales for the months of March and April in the U.S. The console continued to be popular despite issues involving supplies. Fans of Nintendo consoles know that retailers often run out of stock of the console. However, the shortage did not stop the console from rising to the top.

Meanwhile, the NES Classic Edition followed Switch in terms of sales generated. Although, its run was short-lived when the company decided to end production. As for its take on the handheld, the 3DS continued to be a strong force. Nintendo also announced that another iteration of the device called the New DS XL will roll out on July 28 for the U.S. and European markets.

A report from The Guardian also confirmed that the Switch’s launch title “The Legend of Zelda: Breath of the Wild” shipped 2.76 million copies.

Moreover, the report also noted that the Switch may be in a position to reach, if not eclipse the success that the Wii had since its 2006 launching. Nintendo president Tatsumi Kimishima said that if the console hits the 10 million sales mark by December of this year, then it will likely be heading down the same path as the Wii in terms of global success.

The Wii sold 20 million units in its first year and broke the 100 million mark to date.