Nintendo chills mobile gaming ambitions after Animal Crossing success

Nintendo is retreating from the US$77 billion mobile gaming arena after disappointing results deflated once-lofty ambitions, ending a multi-year effort just as the market goes through an unprecedented Covid-19 era boom.Company president Shuntaro Furukawa proclaimed two years ago that smartphone games would be a US$1 billion business with growth potential, building on his predecessor’s promise that Nintendo would release two to three mobile titles each year. That spurred hopes among investors…

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