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Wall Street stocks rose ahead of US President Donald Trump’s fresh wave of tariffs, while European stocks ended the day lower. The dollar was mostly lower, oil prices wobbled, while gold, viewed as a safe-haven investment, came close to achieving a fresh all-time high.After Tokyo’s stock market closed up slightly and Chinese indices steadied, European equity markets dropped, led lower by Frankfurt.Wall Street’s leading indexes opened lower, but climbed into positive territory during morning trading.”For traders and investors, today represents a day of huge uncertainty as we weigh up the potential for retaliatory tariffs and a tit-for-tat trade war,” said Joshua Mahony, analyst at traders Scope Markets.Global equities have been hit hard leading up to Trump’s announcement — dubbed “Liberation Day” — with warnings that friend and foe are in the crosshairs after what he says is years of “ripping off” the United States. He has trailed the measures for weeks, initially suggesting they would match whatever levies other countries impose.But US media reported he has also considered either blanket 20-percent levies or another plan where some countries get preferential treatment.Sweeping auto tariffs of 25 percent announced last week are also due to come into effect on Thursday.The White House has said Trump will unveil his decision at 4:00 pm in Washington (2000 GMT), after Wall Street markets close, with the Republican promising a new “golden age” of US industry.”With the exact scope of these measures still uncertain, you can understand why investors are cautious, reluctant to take on greater exposure to riskier assets just yet,” said City Index and FOREX.com analyst Fawad Razaqzada.Chris Weston, analyst at investors Pepperstone Group, said the suggestion that the tariffs would be effective immediately would provide some certainty to markets, even if it limited the scope for talks.”This scenario — while hardly a positive for economics or earnings assumptions — would increase the conviction behind how we respond to the ‘facts’,” he explained.”That said, life is never straightforward, and we will still need to consider the counter-response from other countries.”The planned duties have ramped up fears of a global trade war after several countries warned they were preparing their responses.Economists have warned that economic growth could take a hit and inflation reignite, dealing a blow to hopes that central banks would continue cutting interest rates.Tesla shares sank around five percent in early trading after the electric car maker released lacklustre sales figures, but pushed higher to show a gain of more than three percent in midday trading.The firm reported a 13-percent drop in first-quarter auto sales amid lower production during factory upgrades, as well as perceived customer reluctance over CEO Elon Musk’s work for the Trump administration.- Key figures around 1530 GMT -New York – Dow: UP 0.4 percent at 42,144.61 pointsNew York – S&P 500: UP 0.4 percent at 5,654.57New York – Nasdaq Composite: UP 0.5 percent at 17,529.17London – FTSE 100: DOWN 0.3 percent at 8,608.48 (close) Paris – CAC 40: DOWN 0.2 percent at 7,858.83 (close)Frankfurt – DAX: DOWN 0.7 percent at 22,390.84 (close)Tokyo – Nikkei 225: UP 0.3 percent at 35,725.87 (close)Hong Kong – Hang Seng Index: FLAT at 23,202.53 (close)Shanghai – Composite: UP 0.1 percent at 3,350.13 (close)Euro/dollar: UP at $1.0858 from $1.0793 on TuesdayPound/dollar: UP at $1.2971 from $1.2920Dollar/yen: UP at 150.01 yen from 149.53 yenEuro/pound: UP at 83.71 pence from 83.51 penceWest Texas Intermediate: DOWN less than 0.1 percent at $71.17 per barrelBrent North Sea Crude: DOWN 0.2 percent at $74.33 per barrel

US and European stock markets fell Wednesday as investors fretted over what shape US President Donald Trump’s fresh wave of tariffs would take at the end of the day.The dollar and oil prices dipped while gold, viewed as a safe-haven investment, came close to achieving a fresh all-time high.After Tokyo’s stock market closed up slightly and Chinese indices steadied, Europe dropped, led lower by Frankfurt, and Wall Street’s leading indexes followed after the open.”For traders and investors, today represents a day of huge uncertainty as we weigh up the potential for retaliatory tariffs and a tit-for-tat trade war,” said Joshua Mahony, analyst at traders Scope Markets.Global equities have been hit hard leading up to Trump’s announcement — dubbed “Liberation Day” — with warnings that friend and foe are in the crosshairs after what he says is years of “ripping off” the United States. He has trailed the measures for weeks, initially suggesting they would match whatever levies other countries impose.But US media reported he has also considered either blanket 20-percent levies or another plan where some countries get preferential treatment.Sweeping auto tariffs of 25 percent announced last week are also due to come into effect on Thursday.The White House has said Trump will unveil his decision at 4:00 pm in Washington (2000 GMT), after Wall Street markets close, with the Republican promising a new “golden age” of US industry.However, officials admitted he was still ironing out the details late Tuesday.Chris Weston, analyst at investors Pepperstone Group, said the suggestion that the tariffs would be effective immediately would provide some certainty to markets, even if it limited the scope for talks.”This scenario — while hardly a positive for economics or earnings assumptions — would increase the conviction behind how we respond to the ‘facts’,” he explained.”That said, life is never straightforward, and we will still need to consider the counter-response from other countries.”The planned duties have ramped up fears of a global trade war after several countries warned they were preparing their responses.Economists have warned that economic growth could take a hit and inflation reignite, dealing a blow to hopes that central banks would continue cutting interest rates.Tesla shares sank around five percent in early trading after the electric car maker released lacklustre sales figures.The firm reported a 13-percent drop in first-quarter auto sales amid lower production during factory upgrades, as well as perceived customer reluctance over CEO Elon Musk’s work for the Trump administration.- Key figures around 1015 GMT -New York – Dow: DOWN 0.3 percent at 41,850.20New York – S&P 500: DOWN 0.4 percent at 5,613.46New York – Nasdaq Composite: DOWN 0.3 percent at 17,399.32London – FTSE 100: DOWN 0.7 percent at 8,572.49 pointsParis – CAC 40: DOWN 0.8 percent at 7,814.50Frankfurt – DAX: DOWN 1.3 percent at 22,245.82 Tokyo – Nikkei 225: UP 0.3 percent at 35,725.87 (close)Hong Kong – Hang Seng Index: FLAT at 23,202.53 (close)Shanghai – Composite: UP 0.1 percent at 3,350.13 (close)Euro/dollar: UP at $1.0819 from $1.0793 on TuesdayPound/dollar: UP at $1.2945 from $1.2920Dollar/yen: DOWN at 149.51 yen from 149.53 yenEuro/pound: UP at 83.58 pence from 83.51 penceWest Texas Intermediate: DOWN 0.1 percent at $71.11 per barrelBrent North Sea Crude: DOWN 0.24 percent at $74.31 per barrel

US President Donald Trump is poised to unveil sweeping new “Liberation Day” tariffs on Wednesday, but kept the world guessing until the last minute about the scope of an onslaught that could spark a global trade war.Trump will unveil the measures flanked by cabinet members in the Rose Garden of the White House at 4:00 pm (2000 GMT) — after Wall Street markets close — promising that they will stop America being “ripped off” and will deliver a new “golden age” of US industry.While Trump insisted he had decided on the reciprocal tariffs hitting countries that have targeted the world’s biggest economy, the White House admitted he was still ironing out details hours before the announcement.Early Wednesday, Trump posted a one-liner on his Truth Social platform: “It’s Liberation Day in America!”The Republican billionaire has had a long love affair with tariffs, insisting in the face of economic experts that they are a cure-all that will tackle America’s trade imbalances with friends and foes alike.Critics say US businesses and consumers could bear the burden if importers pass on the cost, adding that the policy could increase risks of a recession.”If this trade war continues through Labor Day (on September 1), the US economy will likely suffer a recession this year,” Mark Zandi, chief economist of Moody’s Analytics, told AFP.Global markets have been jittery for days ahead of Trump’s announcement, while the countries most likely in the crosshairs have called for talks — even as they ready retaliatory measures.- ‘Immediately’ -The move also underscores the growing and profound gulf between Trump’s America and many of its closest allies, not only on trade but on security, defense and almost everything else.The 78-year-old US president has trailed the measures for weeks, initially suggesting that the tariffs would simply match whatever levies other countries impose.He said Monday that he would be “very kind” but gave little away.As the deadline approached, US media reported that he had been considering blanket 20 percent tariffs — and then that he was looking at a third option where some countries would get preferential treatment.A broad 20 percent tariff on imports could cost the average US household at least $3,400, according to the Budget Lab at Yale University.White House Press Secretary Karoline Leavitt said Trump was meeting top advisors on the eve of his announcement, “to make sure this is a perfect deal.”The tariffs would come into effect “immediately” after Wednesday’s roll-out, she said, effectively ruling out delays for negotiations with other countries.Trump has wobbled on several other tariff announcements since returning to office in January, blinking at the last minute with allies such as Canada and Mexico.His plans have however sparked growing fears of a painful global trade war that could drive up prices and cause widespread disruption.European Central Bank President Christine Lagarde warned Wednesday the impacts will “unsettle the trade world as we know it,” speaking with Irish radio station Newstalk.- Hurting both sides -Major economies including the European Union and Canada have vowed retaliation.The EU will react to new tariffs “before the end of April,” said the French government spokeswoman.An initial response planned for mid-April counters US action on steel and aluminum, and this will be followed by a sector-by-sector study.The spokeswoman said: “A European decision should be announced before the end of April.”Germany warned Wednesday that trade wars hurt “both sides.””We are going to be very deliberate in terms of the measures we take,” Canadian Prime Minister Mark Carney said Tuesday.Elsewhere, British Prime Minister Keir Starmer spoke with Trump on talks towards a trade deal, while Vietnam said it would slash duties on various goods.Other top exporters are seeking to build up alliances to counter Washington, with China, Japan and South Korea speeding up talks on a free trade agreement.The former property tycoon insists the levies will bring a “rebirth” of America’s hollowed-out manufacturing capacity, and says companies can avoid tariffs by moving to the United States.Sweeping auto tariffs of 25 percent are due to take effect April 3, after Trump earlier imposed duties on steel and aluminum imports and goods from China.

Stock markets diverged Wednesday as investors fretted over what shape US President Donald Trump’s fresh wave of tariffs would take later in the day.The dollar and oil prices dipped while gold, viewed as a safe-haven investment, came close to achieving a fresh all-time high.After Tokyo’s stock market closed up slightly and Chinese indices steadied, Europe dropped, led lower by Frankfurt.”For traders and investors, today represents a day of huge uncertainty as we weigh up the potential for retaliatory tariffs and a tit-for-tat trade war,” said Joshua Mahony, analyst at traders Scope Markets.Global equities have been hit hard leading up to Trump’s announcement — dubbed “Liberation Day” — with warnings that friend and foe are in the crosshairs after what he says is years of “ripping off” the United States. He has trailed the measures for weeks, initially suggesting they would match whatever levies other countries impose.But US media reported he has also considered either blanket 20-percent levies or another plan where some countries get preferential treatment.Sweeping auto tariffs of 25 percent announced last week are also due to come into effect on Thursday.The White House has said Trump will unveil his decision at 4:00 pm in Washington (2000 GMT), after Wall Street markets close, with the Republican promising a new “golden age” of US industry.However, officials admitted he was still ironing out the details late Tuesday.Chris Weston, analyst at investors Pepperstone Group, said the suggestion that the tariffs would be effective immediately would provide some certainty to markets, even if it limited the scope for talks.”This scenario — while hardly a positive for economics or earnings assumptions — would increase the conviction behind how we respond to the ‘facts’,” he explained.”That said, life is never straightforward, and we will still need to consider the counter-response from other countries.”The planned duties have ramped up fears of a global trade war after several countries warned they were preparing their responses.With that in mind, economists have warned that economic growth could take a hit and inflation reignite, dealing a blow to hopes that central banks would continue cutting interest rates.- Key figures around 1015 GMT -London – FTSE 100: DOWN 0.9 percent at 8,561.94 pointsParis – CAC 40: DOWN 0.6 percent at 7,831.20Frankfurt – DAX: DOWN 1.1 percent at 22,295.88 Tokyo – Nikkei 225: UP 0.3 percent at 35,725.87 (close)Hong Kong – Hang Seng Index: FLAT at 23,202.53 (close)Shanghai – Composite: UP 0.1 percent at 3,350.13 (close)New York – Dow: FLAT at 41,989.96 (close)Euro/dollar: UP at $1.0803 from $1.0793 on TuesdayPound/dollar: UP at $1.2941 from $1.2920Dollar/yen: DOWN at 149.42 yen from 149.53 yenEuro/pound: DOWN at 83.47 pence from 83.51 penceWest Texas Intermediate: DOWN 0.4 percent at $70.94 per barrelBrent North Sea Crude: DOWN 0.4 percent at $74.19 per barrel

Business was already tough for auto parts maker Asahi Tekko, but with US car tariffs due to bite this week its president has a simple message for Donald Trump: “Give me a break.”The 425 workers at the company are some of the 5.6 million Japanese people employed directly or indirectly in the auto sector who are now fearful about their future.”There is no point in learning about this only two or three months in advance,” company president Tetsuya Kimura said at Asahi Tekko’s factory in Hekinan in central Japan.”Frankly speaking, I want to say: ‘Give me a break’,” Kimura, a former engineer at Toyota, his current firm’s main customer, told AFP.At the plant, where the noise of clanging metal fills the air, robotic arms and machine tools busily produce precision brake, engine and transmission components.The factory is in the Aichi region, Japan’s industrial heartland where Toyota, the world’s biggest automaker by sales, has its global headquarters.Autos have for decades been one of Japan’s biggest success stories. Last year vehicles accounted for around 28 percent of the country’s 21.3 trillion yen ($142 billion) of US-bound exports, and roughly eight percent of all Japanese jobs are tied to the sector.- Ripple effect -But rising costs, tougher emission rules, a global shift toward electric vehicles and a shrinking and ageing Japanese population have pressured the industry for years.Honda and Nissan recently abandoned efforts to merge.The US president last week announced he would impose 25 percent duties on imports of all vehicles into the country from April 3 — hours after he is due to unveil sweeping measures against trading partners for what he says are years of being “ripped off”.For Japan, this is despite talks in February between Trump and Prime Minister Shigeru Ishiba that saw a joint statement hailing a “new golden age for US-Japan relations”. Japanese companies are also the biggest investors into the United States. Trump’s policies, Ishiba said last week, are “difficult to understand”.To compensate for the tariffs, firms such as Toyota, Honda and Nissan will likely hike prices for US consumers, potentially hitting demand for their vehicles — and by extension for parts.That may come on top of a possible global slowdown, triggered by unpredictable US policies.The tariff “will hit auto production hard, undermine confidence, and reduce orders”, Moody’s Analytics said in a report about Japan’s business sentiment.”Given the long and complex supply chains in car manufacturing, the impact will ripple through the economy,” it said.And Natixis economist Kohei Iwahara told AFP: “Some of the bigger companies could actually transfer their production overseas, and that would have consequences on the smaller auto part companies.”- Added uncertainty -The rapid global shift toward electric vehicles has already been forcing some Japanese parts makers to explore opportunities outside of the sector, said Takeshi Sasaki, president of Hokuriku Light Metal Industry.Hokuriku, based in the Saitama region near Tokyo, makes specialised parts for vehicles under research and development for brands including Honda and Suzuki. But it is now looking to develop parts for industrial robots in order to ensure its future, he told AFP.”EVs require fewer parts than internal combustion engine vehicles,” Sasaki said.”Now we have this tariff. This adds uncertainty on top of the uncertainty that we already had. Forex is a risk. The US economic outlook is at risk.” he said.Kimura’s firm is also trying to grow a new business that offers tools and know-how to improve efficiency while reducing emissions.”I am afraid there will be many suppliers that will suffer and go into the red if vehicle production volumes were to fall. “So I think each of the suppliers will have to work very hard to survive,” Kimura said.”I never expected (Trump) to go this far.”Now that this is happening, we just have to move forward and work as we must.”

China’s embassy in Bangkok called on Chinese companies operating abroad to comply with local laws after a Chinese construction firm came under scrutiny for a deadly building collapse in last week’s earthquake.The 30-storey skyscraper, set to house government offices, was the only major building to collapse in Bangkok when a 7.7 magnitude earthquake struck neighbouring Myanmar Friday, with tremors felt as far as the Thai capital.Thai authorities say they are launching a probe into the construction firms responsible amid suspicions they used substandard steel rebar in the structure.The development near Bangkok’s popular Chatuchak market was a joint project involving China Railway No. 10 Engineering Group (Thailand) — an offshoot of China Railway Group (CREC), one of the world’s largest construction and engineering contractors.AFP was unable to reach the Chinese company involved in the project for comment.The Chinese embassy in Bangkok late Tuesday expressed “deepest condolences” for the collapse and urged firms to “strictly” comply with Thai laws.”The Chinese government has consistently urged Chinese companies overseas to abide by local laws and contribute positively to the society,” the embassy said in a Facebook post only in Thai.Beijing has dispatched a team of rescue experts and disaster relief personnel to assist in Bangkok and vowed to “continue supporting Thailand as needed”, it added.It has also urged Chinese firms to cooperate “strictly” with Thai authorities as they investigate the collapse.The local partner in the project, Italian-Thai Development (ITD), offered condolences on Monday to quake victims but said it was “confident” the incident would not impact its other projects.The collapse was the deadliest single incident in Thailand from the earthquake, with the majority of the kingdom’s 22 fatalities thought to be workers on the building site.

Chinese EV maker Xiaomi said it would cooperate with a police investigation into a fatal crash involving one of its cars which had been in autonomous mode just before the accident.Three college students died on Saturday night after their Xiaomi SU7 hit a concrete barrier on a section of the Dezhou-Shangrao Expressway in eastern Anhui province.Before the crash, the vehicle was in Xiaomi’s Navigate On Autopilot (NAO) assisted driving mode, traveling at 116 kilometres per hour (72 miles per hour), according to a company statement posted online.While travelling on a highway section with roadworks, the vehicle detected an obstacle ahead, issued a warning, and handed control to the driver, Xiaomi said.But seconds later, the vehicle hit a barrier at around 97km/h.Footage posted online showed a car in flames on the highway and later the burned-out wreckage.Xiaomi founder Lei Jun said in a social media post late Tuesday that he was “heavy-hearted” and that his company would “continue to cooperate with the police investigation”.Since the crash, many online have questioned Xiaomi’s assisted driving functions, why the car caught fire, and whether the doors could be opened in an emergency.On the X-like Weibo, an account identified by the platform and local media as the driver’s mother accused Xiaomi of failing to contact her and “not taking the lives of three kids seriously”.”As family members, we have many questions. Why did the vehicle catch fire after hitting the barrier?… We just want an explanation,” the woman wrote.Xiaomi, a consumer electronics giant selling goods from smartphones to vacuum cleaners, launched the SU7 in March 2024 as it entered the auto sector.It sold more than 200,000 units in its first year, with the standard model priced at around 210,000 yuan ($28,900).The company’s share price has fallen around five percent since the accident.China’s EV companies are world leaders in assisted driving technology. Xiaomi says cars using its intelligent driving system can overtake and change lanes on the highway, though it cautions that it is not a replacement for drivers.Xiaomi said it had sent a team to investigate the crash and tried to contact the victims’ families through local authorities.

Asian markets edged up Wednesday as nervous investors brace for Donald Trump’s wave of tariffs later in the day, though speculation about what he has in store is stoking uncertainty on trading floors.Equities have been battered leading up to the US president’s announcement — which he has dubbed “Liberation Day” — with warnings that friend and foe are in the crosshairs after what he says is years of “ripping off” the United States. He has trailed the measures for weeks, initially suggesting they would match whatever levies other countries impose. But US media reported he has also considered either blanket 20 percent levies or another plan where some countries get preferential treatment.Sweeping auto tariffs of 25 percent announced last week are also due to come into effect on Thursday.The White House has said Trump will unveil his decision at 4pm in Washington (2000 GMT), after Wall Street markets close, with the Republican promising a new “golden age” of US industry.However, officials admitted he was still ironing out the details late Tuesday.Analysts said the ongoing uncertainty was spooking markets.”Investors and company management dislike uncertainty, and the piecemeal, unreliable way in which tariff announcements are being delivered is creating plenty of it,” said Oliver Blackbourn and Adam Hetts at Janus Henderson Investments in a commentary.”Estimates on what the average tariff rate will look like range from a few percentage points in moderate outcomes to double-digit levels in more forceful scenarios,” they added. “What does seem less uncertain is that tariffs are, without much exception, likely to be bad for economic growth, consumers, and markets.”Pepperstone Group’s Chris Weston said the suggestion that the tariffs would be effective immediately would provide some sort of certainty, even if it limited the scope for talks.”This scenario — while hardly a positive for economics or earnings assumptions — would increase the conviction behind how we respond to the ‘facts’,” he explained.”That said, life is never straightforward, and we will still need to consider the counter response from other countries.”The planned duties have ramped up fears of a global trade war after several countries warned they were lining up their responses.With that in mind, economists have warned that economic growth could take a hit and inflation reignite, dealing a blow to hopes that central banks would continue cutting interest rates.In early trade, Asian markets mostly rose, though they were fluctuating between gains and losses after a recent selloff.Hong Kong, Shanghai, Sydney, Wellington, Taipei and Manila were all up, Tokyo was flat and Singapore and Seoul slipped.Safe haven gold held just below its record high $3,149.00 touched Tuesday.And HSBC strategists led by Max Kettner warned Wednesday might not mark the end of the tariff uncertainty.”We’d argue the potential is in fact higher for the 2 April deadline to introduce even more uncertainty — and hence prolonged broad-based weakness in leading indicators,” they said.Chinese tech giant Xiaomi swung slightly higher in Hong Kong to claw back some of Tuesday’s fall of more than five percent that came after it confirmed one of its electric vehicles was involved in an accident in China that reportedly left three people dead.- Key figures around 0230 GMT -Tokyo – Nikkei 225: FLAT at 35,639.81 (break)Hong Kong – Hang Seng Index: UP 0.6 percent at 23,347.27Shanghai – Composite: UP 0.2 percent at 3,355.60Euro/dollar: UP at $1.0797 from $1.0793 on TuesdayPound/dollar: UP at $1.2924 from $1.2920Dollar/yen: UP at 149.81 yen from 149.53 yenEuro/pound: UP at 83.54 pence from 83.51 penceWest Texas Intermediate: UP 0.1 percent at $71.28 per barrelBrent North Sea Crude: UP 0.1 percent at $74.53 per barrelNew York – Dow: FLAT at 41,989.96 (close)London – FTSE 100: UP 0.6 percent at 8,634.80 (close) 

Japanese video game giant Nintendo is set to unveil the new version of its hugely popular Switch console on Wednesday, with the update eagerly awaited by both gamers and investors.Everything from the release date to the price of the Switch 2 is set to be announced at 1300 GMT during a one-hour video broadcast online following a brief first glimpse in mid-January.Very similar visually to its best-selling predecessor, which was launched in 2017, the Switch 2 features a larger screen, a wider stand, and retains its detachable “Joy-Con” controllers.It will also be more powerful than the original model while keeping its hybrid console concept, allowing players to use it both on-the-go and connected to a TV — a key factor in the success of the first Switch which has sold 150 million units worldwide.Experts says no major gaming revolution is expected with the Switch 2 to rival the 2006 appearance of motion controls on the Wii, or to a lesser extent, the Wii U’s screen-controller in 2012.”When you ask gamers, they mention performance and game software, but in reality, they seem to want the same experience as the original Switch,” said Hideki Yasuda, an analyst at Japanese brokerage Toyo Securities.”I think what they truly want is simply higher performance.”- June release? -Piers Harding-Rolls, an expert at Ampere Analysis, a London-based consultancy, said a successful launch was “fundamental” for Nintendo’s future. “There is huge demand for a better version of the original Switch,” he added.Despite recent diversification efforts into movies and theme parks, Nintendo’s core business still relies heavily on video games.The company cut its profit forecasts in February due to slowing sales of its star console.Industry rumours suggest a possible June release, with Yasuda estimating six million units would be initially made available. In the long run, Nintendo could sell 19 million units in 2025 and 21 million the following year, according to Toyo Securities estimates.Another key factor is pricing, which experts estimate will range from $430 to $540.Uncertainty over US import tariffs also remain a concern, although Nintendo has recently switched an increasing amount of production from China to Vietnam, which faces lower customs duties.- New Mario Kart? -As the video game industry faces a global slowdown, marked by waves of layoffs, the arrival of the Switch 2 could revitalise console sales which have been declining worldwide.Sales fell by 35 percent in 2024 year-on-year in the United States, according to data from US market research firm Circana.The key to the success of the Switch 2 is likely to be its games line-up. “They are hugely important, especially for early adopters,” said Harding-Rolls, as fans eagerly wait to know the exclusive titles for the new console.During its January preview, Nintendo revealed a few seconds of a new Mario Kart game, suggesting that it was bringing back one of its most popular franchises.With over 75 million copies sold on the Wii U and Switch, Mario Kart 8 is the second best-selling game in Nintendo’s history, close to Wii Sports’ record of 82 million copies.Nintendo’s recent announcement that players can loan digital versions of Switch games to friends via “virtual game cards” could also encourage players to invest in a second console, making game sharing easier.Starting Friday, select players chosen by lottery will get to test the new console at events in New York, Tokyo, Paris and other cities.

Gaming giant Nintendo is set to unveil the successor to its phenomenally popular Switch console on Wednesday.Here are some facts about its success: – 150 million sold -Nintendo has sold around 150 million Switch machines since the gadget’s launch in March 2017.That makes it the third best-selling console in video game history, behind Sony’s PlayStation 2 and the Nintendo DS.Nintendo estimates it has sold a colossal 1.3 billion games that run on the console.The biggest hit by far was “Mario Kart 8 Deluxe” (67 million copies sold), followed by “Animal Crossing: New Horizons” which became a must-play during Covid (47 million sold).- Initial indifference -The arrival of the Switch — a hybrid console that can be played on-the-go or at home connected to a television — revolutionised the video game world.But plans for the console were unveiled in 2015 to overwhelming indifference after the successor to Nintendo’s popular Wii device, the Wii U, flopped commercially.The Switch was at first seen as pricey, lacking games and with little to no chance of competing for consumers’ wallets with Sony’s more powerful PlayStation 4.”Console games had lost ground to mobile games, and were seen by investors, media and the general public as no longer having any utility,” said analyst Hideki Yasuda of Toyo Securities.”Expectations for the Switch were very low,” he told AFP.”But once it started selling well, opinion quickly changed.”- ‘Lateral thinking’ -The Switch was a high point in Nintendo’s creativity over the past 40 years, according to Florent Gorges, a French author of books on the Kyoto-based company’s history.On a technical level, the console was anything but cutting-edge, however.But Nintendo’s knack for creating appealing games, combined with the console’s portability, made it a winner.”The Switch perfectly respects Nintendo’s DNA, which is ‘lateral thinking with withered technology’,” said Gorges.”This means to succeed in making something new out of something old,” he explained.It was the philosophy of Gunpei Yokoi, the father of Nintendo’s Game & Watch series of electronic games, which sold tens of millions of units in the 1980s.- Reorganisation -The success of the Switch prompted Nintendo to combine its home and portable consoles divisions into one unit.”Nintendo had two activities, with totally different prices, totally different software development,” said Serkan Toto from Tokyo firm Kantan Games.But since 2017, thanks to the Switch, “there has been a constant and very reliable flow of games developed directly by Nintendo, and that has helped them enormously,” he told AFP.