A new Bloomberg report shows that thanks to the mobile gaming sensation that is Pokemon GO, Nintendo’s market value is now greater than that of Sony’s.
After a rather impressive performance in the seventh generation, Nintendo’s fortunes took a nosedive with the introduction of the 3DS. The early disappointing sales performance of the 3DS and dwindling interest in the Wii caused Nintendo to post its first annual loss in three decades back in 2012, and Wii U did nothing to turn things around for the Big N. However, things are finally starting to look up for Nintendo, as the company now has more market value than Sony, and mobile gaming phenomenon Pokemon GO deserves most all of the credit.
After Pokemon GO contributed to Nintendo’s incredible, record-breaking stock market performance last Friday, it should come as little surprise that its shares have continued to increase since. Nintendo’s market value topped out at $39.8 billion yesterday, surpassing Sony’s $38.34 billion market value, and officially making Nintendo worth more than Sony.
In other words, the release of Pokemon GO has essentially negated Sony’s sizable lead against Nintendo in terms of console sales for the time being, which just goes to show how incredibly popular the game really is. Nintendo didn’t have an active hand in Pokemon GO‘s development, however, but it may want to work in tandem with Niantic moving forward to ensure the game is able to maintain this virtually unprecedented popularity.
Nintendo may also want to start promoting the mobile gaming projects it has in the pipeline while it’s riding this current wave of momentum. If its Animal Crossing and Fire Emblem mobile games sound promising enough, it could help Nintendo’s market value rise even further. To that end, now could also be a smart time to announce that a Super Mario game is in development for mobile devices as well.
Beyond mobile, Nintendo also has plans to continue its traditional console gaming business. The fervor surrounding Pokemon GO could also make it a good time for Nintendo to finally reveal the Nintendo NX, and if the hardware’s announcement is well-received, it could translate to Nintendo increasing its market lead on Sony.
With Pokemon GO the biggest mobile game in US history, there are more eyes on Nintendo than there has been in years. The company has managed to bounce back from its worst days basically overnight, and if it makes the right moves over the next few months, it could maintain this momentum to become the top video game console manufacturer once again.
Pokemon GO is available now for iOS and Android mobile devices.