As Canadians try to get their hands on the Pokémon GO app through unofficial sources, Lyndsay Wasser, partner and co-chair of the Cybersecurity group at McMillan joins BDPM for a look at the liability and legal issues surrounding the popular game. That’s $6.7 billion in market value. Nintendo said that even with the wild success of the game, there was no reason to revise its annual earnings forecast upward.
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Nintendo is scheduled to report earnings on Wednesday, but they will cover the quarter prior to Pokemon Go’s release.
To be fair, keep in mind Nintendo stock is still up more than 60% over the past month thanks to optimism for Pokemon Go. In one blow it shatters the investors dream who thought that Nintendo had developed the game, but it truly has just lent the IP and copyrights of the “pocket monster” to the game developer Niantic Labs.
Game developer of Nintendo’s smash hit Pokemon GO. Investors are also waiting for announcements on Nintendo’s other upcoming mobile games and its next-generation console expected to be released next year, analysts Mia Nagasaka and Yuki Maeda wrote in a July 22 report.
Nintendo spilled the Pokeballs shortly after trading had closed on Friday and piggybacking the launch of PoGo in Japan, they released their statement. “The Pokémon Company is going to receive a licensing fee as well as compensation for collaboration in the development and operations of the application”, Nintendo said.
And while some reviewers believe that the Pokémon Go app may not have longevity in its current form, Niantic apparently has plans to develop the game, both with more Pokemon and significant additions to gameplay. “Because of this accounting scheme, the income reflected on [Nintendo’s] consolidated business results is limited”.
The smartphone app has now been launched in more than 40 countries, but until last week Japan – where Nintendo started the mythical creature franchise 20 years ago – was kept waiting.
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They also stated that the upcoming “Pokemon Go Plus”, which is a peripheral device of the “Pokemon Go” is yet to be produced and distributed by the company in the future.
