Nintendo Switch Helps Company Surpasses Sony In Market Cap
For the second time in 11 months, Nintendo's market cap passes Sony's.
Thanks in part to the success of the Nintendo Switch, Nintendo's market capitalisation--that is, how much the company is worth on the stock market--has surpassed that of Sony's.
As Nikkei reports, Nintendo's market cap reached 5.44 trillion yen on Friday, which comes out to $48.9 billion. By comparison, Sony's market cap as of Friday was $48.5 billion. This is not the first time Nintendo's market cap has passed Sony's, as that happened 11 months ago and also a decade ago, fueled by the popularity of the Wii.
Last week, Nintendo apologised for Switch shortages and promised to increase the amount of Switch consoles available--at least in Japan.
"For autumn and beyond, we will continue to work to ensure that as many products as possible can be delivered to our customers towards the end of the year," Nintendo said.
The Switch outsold the Xbox One and PS4 for two months in a row in the United States, but in June the PlayStation 4 came out as the month's top-selling hardware.
Nintendo sold 2.4 million Switch consoles worldwide during its launch month of March 2017, though the company has not announced a new sales figure since.
As for Sony, the company recently announced that PS4 sales had passed 60.4 million units sold through the consumers, not just shipped.