2016.10.2606:46:00UTC+00Nintendo lowers profit, sales projections amid Pokemon Go boom

Nintendo Co. said it slashed its projections for operating profit and sales this year as the boom of Pokemon Go was not able to curb slumping sales of its console games, including Wii U.

In the fiscal year through March, the company is expecting a revenue of ¥470 billion ($4.5 billion) from ¥500 billion ($4.8 billion), as well as an operating profit of ¥30 billion ($288 million) from ¥45 billion ($432 million).

Nintendo President Tatsumi Kimishima said the financial impact was already integrated into its revised estimation. Shares dropped 7.4% in Germany.

Unveiled in July, the popularity of Pokemon Go suddenly escalated worldwide as players worldwide installed the app into their devices and begun hunting for virtual monsters in various areas. Data by App Annie showed the mobile game generated $600 million in its first three months.