Seth Fischer, one of Asia's best-known hedge fund managers, has written to Nintendo Co Ltd urging the Japanese console maker to develop and sell games for mobile platforms run by Apple Inc and Google Inc. Fischer, of Hong Kong-based Oasis Management Co Ltd, sent a similar letter in June to Nintendo, in which Oasis owns shares. His latest missive adds to investor pressure for the company to move on from making games only for its propriety consoles.
"Nintendo needs to embrace this thematic change in consumer demand, behaviour and expectations to stay relevant," said Fischer, Oasis' chief investment officer, in a letter on Wednesday obtained by Reuters. "It is readily apparent that the standard elasticity of demand principle no longer applies in the consumer entertainment market when access requires the purchase of a physical product," Fischer said in the letter to Nintendo Chief Executive Satoru Iwata.
Full report here
Sign-in to post a reply.
