Wednesday, 20 July 2016

Pokemon Craze Sees Nintendo Value Double!

Nintendo's value has more than doubled since the launch of its Pokemon GO mobile game two weeks ago, as the latest surge in shares saw it overtake rival Sony.
The Japanese company closed another 14% higher in Tuesday trading, taking its market value to 4.5tn yen (£32bn), above PlayStation maker Sony's 4.09tn (£29bn) yen - making it the country's largest tech company.
Investors' appetite for the shares has shown no signs of abating with Nintendo accounting for roughly a quarter of all trading on the Tokyo Stock Exchange's main index in the latest session.
The shares surge in Tokyo even spread to a bakery firm, First Baking, that sells "Pokemon Bread". It was up 18% on Tuesday.
Meanwhile, McDonald's Japan climbed 5% after it started giving away Pokemon figurines with Happy Meals.
The market craze mirrors the take-off of the Pokemon GO phenomenon worldwide, with the app topping smartphone download charts - while there have also been warnings about its potential dangers .
Now available in 35 countries - mainly in Europe but also including the US and Canada - Pokemon GO's launch has triggered massive buying in Nintendo's shares.
In the game, players walk around real-life neighbourhoods to find virtual cartoon or Pokemon characters on their smartphone screens.
Nintendo had previously seemed reluctant to make a major push into mobile gaming, and more focused on protecting the market for its Wii and DS products.
The success of Pokemon GO could see it capitalise in a similar way on a line-up of its popular characters ranging from Super Mario to Zelda.

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