Gaming companies seeing a surge in sales amid coronavirus lockdown
Major gaming developers like Ninetendo and Sony are seeing financial benefits from the boredom of gamers in staying home during the pandemic.
From April to June, the Japanese gaming software company is reporting a gain of $1.4 billion for the first fiscal quarter, which is a substantial increase of 108 percent from the previous year.
The Nintendo Switch and Switch Lite were among the most popular gaming consoles to be sold in the quarter, with over 5.68 million units being sold. 'Animal Crossing: New Horizons' has also quickly become a fan favorite, with 22.4 million copies sold since the game's release in March.
Apart from Nintendo, tech giant Sony has reported a sale of 91 million gaming units, despite a one percent decline in profits from the first quarter.
Sales analysts expect the trend to continue as gamers are looking for a form of entertainment and escapism while most businesses are still restricted.