Nintendo shares plummet after revelation it doesn't own Pokemon Go


Nintendo shares plummet after revelation it doesn't own Pokemon Go

Nintendo's shares have skyrocketed since the release of Pokémon Go, but what goes up must comes down. The company revealed during a financial briefing that it doesn't actually own the app and its profits from it will be limited as a result.

"Taking the current situation into consideration, the company is not modifying the consolidated financial forecast for now," Nintendo said. Investors didn't take kindly to this news and Nintendo's stock fell by 17.7%.

Pokémon Go is made by Niantic, licensing what it needs from The Pokémon Company. Nintendo owns a third of The Pokémon Company and will earn some money thanks to the licensing, but it's unclear as to how much it will benefit.

Of course, Nintendo will be releasing Animal Crossing and Fire Emblem on mobile later this year, and mobile game players may be much more tempted by these as a result of the success and popularity of Pokémon Go.

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