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Share surge adds $1 billion to Nintendo's market value ahead of NX reveal

Nintendo's shares have soared ahead of the official reveal of its long-rumored console-handheld hybrid, the NX.

Chris Kerr, News Editor

October 20, 2016

1 Min Read

Nintendo's shares have soared ahead of the official reveal of its long-rumored console-handheld hybrid, the NX. 

As reported by Bloomberg, shares surged by as much as 4.6 percent in Tokyo today, adding over $1 billion to Nintendo's market value. 

"The reveal comes relatively late for a game console that is slated to go on sale in March," said Ace Research Institute analyst Hideki Yasuda, speaking to Bloomberg.

"It has to be sufficiently different from Wii U and deliver on Nintendo’s promise of a completely new concept device."

Nintendo confirmed the existence of the NX back in March 2015, with Satoru Iwata, who was company President at the time, describing the machine as a "brand-new concept."

The console-maker has remained tight-lipped since then, only confirming that the system will launch in March 2017 alongside The Legend of Zelda: Breath of the Wild

Multiple rumors and leaks have suggested the new system will be a hybrid device designed to serve as both a home console and a handheld.

We'll know whether or not that proves to be true in less than an hour, when Nintendo pulls back the curtain at 7am PT on its official website.

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About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

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