FRIDAY THE 13 Posted July 22 Posted July 22 PIF sells stake in US concert promoter Live Nation Saudi gaming company courts giants of Japan and South Korea Prince Faisal: growth, not profit, is focus for esports Nintendo has been grappling with a slowing console gaming market and an ageing product in its flagship Switch hybrid console – its best-selling system ever, which sold 143.4 million units worldwide. In the company’s fiscal first quarter ending June 30, Nintendo reported a 46 percent year-on-year drop in sales of the Switch. They sold 2.1 million units in the three-month period, down from 3.91 million units a year ago. The Saudi sovereign wealth fund also holds around 9 percent of Koei Tecmo Holdings. In 2022, PIF purchased more than 5 percent stakes each in South Korea’s Nexon and Japan’s Capcom. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free https://www.agbi.com/gaming/2024/12/saudi-pif-continues-to-trim-stake-in-japans-nintendo/
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