July 30th, 2016, 07:03 AM
Nintendo delays release of Pokemon Go Plus
The Japanese video game developer said Wednesday it's delaying the release of Pokemon Go Plus, an accessory for the wildly popular smartphone game. It also posted a net loss of $233 million for the latest quarter.
On Monday, the company's shares plunged after it said that Pokemon Go will have only a "limited" effect on its bottom line.
Nintendo's share price had more than doubled following the release of the hit augmented reality game earlier this month, adding $23 billion to the company's market value. But the stock is now down around 30% from its high last week.
Pokemon Go was actually developed and distributed by a company called Niantic. Both Nintendo (NTDOF) and The Pokemon Company, one of its subsidiaries, have invested in the privately-held Niantic -- but so have other firms including Google.
The Pokemon Go Plus, a separate device that enhances the gaming experience, is another way for Nintendo could profit from the game's runaway success. But it said Wednesday the release has been pushed back from the end of this month to September.