The phenomenal success ofand the surge in Nintendo Co’s market value by $17 billion in just over a week has been seized upon by one of its most vocal investors to press for a change of strategy at the company.
Until Pokemon GO, a mobile game, was launched just over a week ago,had taken every opportunity to say its main focus was still gaming consoles, and games for smartphones were just a means to lure more people to them.
But the success of Pokemon GO – unforseen even by its creators – has shown the potential for augmented reality and for Nintendo to capitalise on a line-up of popular characters ranging from Zelda to Super Mario.
Seth Fischer, founder and chief investment officer at Oasis Management, is one of Asia’s best known hedge fund managers and has long been a small but loud shareholder. Encouraged by the success of mobile games like “Candy Crush”, he has campaigned for years for the Japanese console maker to develop and sell games for platforms run by Apple and Google.
“I hope they will now understand the power of smartphones,” Fischer told Reuters. “And as a result, I hope this means there is a whole change in strategy.”