TOKYO :Shares of Japan's Nintendo Co Ltd and SoftBank Group Corp fell sharply on Wednesday, after both companies jolted investors with disappointing results, emphasising the dim outlook for global tech firms.
SoftBank shares fell 6.6 per cent after it reported a quarterly loss, hit by its massive Vision Fund investment unit, which fell into the red for the fourth straight quarter. The global tech investor also gave a cautious outlook. "The Nintendo Switch is now a six-year-old console and demand is now exhausted," analyst Mark Chadwick said on Smartkarma.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »