KYOTO, Japan, July 11 (UPI) — Nintendo’s market value increased by $7.5 billion Monday as stocks rose close to 25 percent following the release of mobile game Pokémon Go.
The gaming giant’s share price rose 24.52 percent as the share price opened at $193, the company’s highest one-day surge since 1983, adding $7.5 billion to its market value.
Released for iOS and Android phones in the United States on Wednesday, the title was responsible for initially raising Nintendo’s stock 9.3 percent on Friday and has topped app download charts worldwide with launches in Australia and New Zealand as well. Launches in Japan and Britain are expected to arrive soon once lag and server issues can be controlled.
Pokémon Go is an augmented reality game that utilizes a phone’s camera to have Pokémon characters appear in the real world in order for users to capture them. The game features a virtual map that uses a phone’s GPS features to create points of interest and Pokémon that players can reach by physically walking toward them.
Developed by Niantic alongside The Pokémon Company, two companies Nintendo owns a stake in, the free-to-play game generates revenue through the use of in-app purchases that give users power-ups and extra items.
Pokémon Go represents a shift for Nintendo, which has always shied away from the prospect of bringing its titles to mobile in order to protect its console gaming business. Four more smartphone games from the company are in development.
Nintendo, though, is not leaving behind consoles. Its newest project, codenamed the ‘NX,’ is expected to launch in March 2017 globally.
