Jun 30, 2017

Game Digital profits hit by lack of Nintendo Switch consoles

Video-game retailer Game Digital has been hit by supply shortages of a popular new console, forcing it to issue a profit warning and sending its shares down by more than 30 per cent. Demand from gamers for the Nintendo Switch console had been "Very strong" since it went on sale in March, Game said in a trading update on Friday. Game had warned in March that sales would be "Highly dependent on stock availability" of the Nintendo console. The company has tried to shift itself away from being dependent on launches of consoles and games with in-store gaming zones equipped with cutting-edge equipment. Video game retailers have been particularly badly affected by the broader shift away from the high street in recent years, with developers moving to increase their own profit margins selling games as direct downloads.

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