Hedge Fund Urges Nintendo to Develop and Sell Games for Mobile Platforms
Nintendo Co Ltd has been urged by one of Asia's best-known hedge fund managers Seth Fischer, to develop and sell games for mobile platforms run by Apple Inc. and Google Inc.
The
letter is the second that Hong Kong-based Oasis Management Co Ltd has
sent to Nintendo, in which it owns shares, adding pressure on the
Japanese company to branch out from its underperforming consoles.
Oasis
is pushing Nintendo to capitalise on the spread of smartphones and
tablets by releasing games that can be played on any mobile device.
"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 obtained by Reuters.
Fischer, who once managed $3.3 billion for DKR Soundshore Oasis Fund, opened his own hedge fund in 2011.
Source: Reuters
