Nintendo shares soar on Pokemon Go success

Shares in Japanese gaming company Nintendo jumped by nearly a quarter on Monday following the success of its new Pokemon Go smartphone game.

It debuted at the top of gaming charts in the US last week and is set to be released in Japan soon, although it is not available yet in the UK.

Pokemon Go requires users to try to catch on-screen characters like Pikachu using their real-world locations.

Millions of users have already downloaded the game.

The game was downloaded onto more US Android smartphones than dating application Tinder within a day of its launch, according to data from Similar Web.

Its popularity has seen it generate headlines about armed robbers using it to lure gamers, to a person discovering a dead body in a river while searching for a Pokemon character.

The rally in Nintendo's shares since the debut of Pokemon Go on 6 July has added more than $7bn to the company's market value.

 

Nintendo, which is also behind the iconic Super Mario game, has traditionally relied on sales of its gaming consoles.

However, sales of those have been slowing in recent years as more gamers move online and onto portable devices.

Analysts have criticised the company for lagging its rivals and being late to the game in catering to the growing smartphone market.

In March, Nintendo released its first-ever mobile game Miitomo, which has done well. It gained a million users within three days of its launch.

The Japanese company has said it plans to launch four more smartphone games by the end of March 2017.