Latest news with #Reidy
Mint
5 days ago
- Business
- Mint
Nintendo Can't Afford a Slip Up With Switch 2
(Bloomberg) -- Never miss an episode. Follow The Big Take daily podcast today. The Nintendo Switch has generated some $100 billion in sales for the Japanese gaming giant since its launch in 2017, propelling the company's shares to record highs. Now the game-maker is under pressure to do even better with the new Switch 2, out this week. On today's Big Take Asia Podcast, Bloomberg Opinion's Gearoid Reidy joins host K. Oanh Ha to talk about why the Switch 2 is so important to Nintendo's business and whether it can live up to the hype. Listen and follow The Big Take on Apple Podcasts , Spotify or wherever you get your podcasts. Terminal clients: click here to subscribe. Here is a lightly edited transcript of the conversation: K. Oanh Ha: Gamers, start your engines. Mario: Let's-a-go! Yahoo! Ha: If that sound brings back memories, you're likely one of the hundreds of millions of people who's owned or currently owns a Nintendo gaming device. And this week the company is hoping to add to that number, when it releases the next generation of its most popular console, the Switch 2. Nintendo Ad: Nintendo Switch, two JoyCon, two controllers that attach in a snap… Gearoid Reidy: The Switch has been a massive hit for Nintendo. Ha: Gearoid Reidy is a Bloomberg Opinion columnist based in Tokyo. Reidy: Nintendo have made about a hundred billion dollars in revenue over the lifetime of the Switch. It's sold over 150 million units worldwide. And it has absolutely juiced Nintendo's stock price. Ha: The Switch launched back in 2017 and it's on track to become Nintendo's most successful device ever. Eight years later, the company is hoping to recreate some of that magic by dropping a new, premium product. Ha : Gearoid, what's new about the Switch 2? Reidy: It is everything that you loved about the Switch One powered up. It has a much better and larger screen than the original Switch. I've seen it myself. It looks fantastic. It's gonna have a whole host of new games starting with Mario Kart World. It's only gonna be available on the Switch 2. Ha: To outsiders, it may seem like Nintendo is riding high. But Gearoid says this is actually a risky period for the company. That's because Nintendo's business is almost entirely reliant on this one device, unlike its closest competitors, Sony, who makes the PlayStation and Microsoft, with the Xbox Reidy: Nintendo right now would seem to be at the top of the world. Their stock is just off an all time high. This is also the riskiest time for Nintendo. They really need to make a success out of this, right? If they don't, they don't have something else to fall back on, like Sony or Microsoft. Ha: This is the Big Take Asia from Bloomberg News. I'm Oanh Ha. Every week, we take you inside some of the world's biggest and most powerful economies, and the markets, tycoons and businesses that drive this ever-shifting region. Today on the show — Nintendo's big bet on the Switch 2 and why it can't afford any missteps this time around. Ha: Gearoid, did you grow up playing video games? Do you remember your first video console? Reidy: Absolutely. I've been playing video games almost for as long as I can remember. The first Nintendo console that I remember having was the the NES, Nintendo's first console and the first game that I remember playing on that was the original Super Mario Brothers. Ha: We were actually the first kids on the block who also had the original NES. This was the one that came with the robot. Maybe it was the second edition for the American market. Reidy: Oh, wow you had the robot, R.O.B. the robot. Yeah Ha: It was so cool. All the kids came to our house and I remember we were all dazzled by the robot. Ha: When I first heard about Nintendo in the early '80s, its products were cool and cutting edge. Nintendo ad: Will you be the one to witness the birth of the incredible Nintendo Entertainment System? The one to play with R.O.B, the extraordinary video robot. Batteries not included... Ha: We are talking about Nintendo's launch of the Switch 2 today, and I wonder, as we're talking, how much of its success is really about nostalgia? Reidy: I'm not sure if nostalgia is really the right word so much as connection to those characters. Nintendo, I think, has been uniquely good at being able to create characters and maintain them over the course of so many years. It's almost like a timeless quality to these characters. Just as, you know, Disney has been able to do with Mickey Mouse, Nintendo has been able to do with Mario, Zelda and so on across these franchises. Ha: In the fiscal year of 2024, Nintendo sold more than 8 million units of Mario Kart 8 Deluxe, a game first released more than a decade ago. And all together, the company has sold more than 75 million units — without giving any discounts. On top of that, the majority of the games sold on the Switch are created by Nintendo and played exclusively on the device. Reidy: Nintendo's secret sauce is the intellectual property that they've built. That's a cold way to describe what is a very warm collection of different franchises and different characters that so many people across different generations love. These are characters that, in this case, something like Mario or Zelda, several generations have now grown up with. And that, I think, is really the thing that separates Nintendo from its competitors, is that they're almost stewards now, of these characters, of these franchises that are so beloved across the world. Ha: Besides the games, Nintendo is also famous for its unique hardware designed to create new experiences – rather than just upgrading existing hardware with flashier graphics – something its competitors like Sony has done with the popular PlayStation. Reidy: With the PlayStation, you know, we went from the PlayStation 1, PlayStation 2, PlayStation 3. Each generation is broadly similar to the previous one. Of course, the hardware inside is very different and much improved from one generation to the next. But the main focus of the style of playing doesn't really change that much. The name doesn't really change that much. Nintendo withdrew from that kind of way of doing things quite a long time ago and decided to focus more on play experiences. They have generally gone into each new generation of product trying to do something new. From the Super Nintendo to the Nintendo 64, it has a different way of playing. They go from the Nintendo 64 to the Game Cube. They went from the Game Cube then to the Wii. And yet, with each one of these, you're seeing, the name changes, the philosophy changes, what they want to do with it changes. And oftentimes, they have a hardware innovation that keeps users coming back for a new experience. Ha: That's why Nintendo takes its time with research and development – meaning fans often have to wait years for new products. Reidy: The late president Satoru Iwata talked about the need to surprise gamers and to give them something new. Much to the chagrin of shareholders over the years, they're not focused on extracting as much profit from their business as they possibly can. They're very much focused on the player. Ha: And for the most part, Nintendo's player-focused strategy has paid off. One of its most successful breakthroughs was the Wii console in 2006. It was an instant success and Nintendo's bestselling game system for 15 years. Reidy: It was on every late night talk show. South Park had a whole, had a whole episode around the kids trying to get it. Liane Cartman: There you are Eric, what are you doing here? Eric Cartman: I'm waiting for the new Nintendo Wii to come out. Reidy : The controller did not look like anything that a traditional controller looked at the time. A lot of the games involved, you know, using motion sensing technology, and the idea was that they could bring in people who were intimidated by traditional sort of like game controller, which has lots of buttons and knobs and dials and stuff like that can be quite intimidating to people who don't know what's going on. Ha: I remember having dance parties with the kids using, using the Wii after it launched. It was fun. Reidy: Absolutely. It really broke the mold and it pushed Nintendo back into the mainstream, and for a while it was one of the most desirable products in the world. Ha: The Wii was a hit. But when Nintendo attempted to follow up with the Wii U six years later, it stumbled – big time. Reidy: People didn't actually know it was a new console. People thought that it was maybe just an add-on for the Wii. Nintendo had three straight years of operating losses. Their stock was absolutely tanked basically by this. Ha: After its failure with the Wii U, Nintendo spent five years making the Switch. That combined two different lines of hardware, the home console – the controller that you play while sitting in front of the TV – and the handheld – like the Game Boy – into one device. Reidy: The Switch could do everything, right? If you wanna have it as a home console, if you just wanna have it under your TV, you can do that. If you wanna take it out, play it in the park, bring it on a plane, you can do that as well. You're not really compromising on either one of those things. It's the same games, it's the same data, it's exactly the same device. And no one had really, to the best of my knowledge, thought of trying that. There's no device in the world basically that functions like a Switch does. Ha: The Switch generated some $100 billion in sales and propelled Nintendo's shares to record highs. It's one of the highest selling consoles of all time, coming in a close second to the PlayStation 2. With the runaway success of the Switch, Nintendo has been feeling the pressure to come up with an even better console with the Switch 2. And this time, Gearoid says the company's trying to learn from its past mistakes: It's deviating from its traditional approach of delivering something completely new. Reidy: This is the first time they've just basically taken the same concept and souped it up, put a '2' at the end of it and said, it's everything that you love about the original device, but more. Ha: After the break: The Switch 2 comes to market – will the change in strategy work? Ha: Nintendo's Switch 2 officially hits stores on June 5. But preorders for the console have already sold out, despite the jaw-dropping price tag. At $450, the Switch 2 lands on the expensive end of what most analysts expected. But the real jolt is the price of the games: It'll cost $70 to get Donkey Kong Bananza and $80 for Mario Kart World – That's a hike of as much as 30%. And gamers are up in arms. Gamer: Nooo!Gamer: Price dropped 450. That is not good. No, not Charging $80 for a video game isn't just ridiculous, it's That's too expensive 400 and 49 dollars is more… Ha: Adding to the challenge on pricing is President Trump's tariffs. Hours after Nintendo revealed the price for the new Switch, Trump announced sweeping tariffs on countries around the world – including China and Vietnam, where Nintendo produces most of their devices . Ha: Gearoid, the US is the biggest market for Nintendo. How's that going to impact Switch 2 sales? Reidy: It is impossible to tell right now what that actual impact is going to be. China and Vietnam obviously both of those countries are potentially in the line for tariffs or potentially not. However, I think it's very hard to believe that they would be able to sell the Switch 2 for much more than it's going to retail for, at $450, in the US. It's hard to see how they would, you know, be able to have a device. As much as I am looking forward to the Switch 2, I don't think it's a $600 device, which some estimates say that it would cost if, if the tariffs go in the worst case scenario Ha: What's for sure is that Nintendo needs to sell its latest console…and LOTS of it – because.. it has no plan B. Reidy: In a typical year, anything from 93 to 95% of their revenue is coming directly from their video game business. They've had other successes over the past couple of years. They had the the Mario movie They have Nintendo stores in an increasing number of cities. They have theme parks these days in collaboration with Universal Studios. They really need this to be a success and that primes them for success going forward. Ha: That's a big reason why Nintendo is shifting its strategy this time around – building on what's worked so well with the Switch and avoiding a repeat of what happened with the follow up to the Wii. Reidy: I think they definitely learned the lesson of the marketing of the Wii U. The Wii U was a very confusing proposition. So I think that's why they've gone this time with quite a conservative, by their approach, take on the Switch 2. It started with the name, you know, there was a lot of speculation over, you know, what were they gonna call it? What was it going to look like? They've decided to keep the same, basic form factor of the Switch. It has the monitor, it has the two controllers. Now this time, instead of clipping on, they go on via magnets, but you can look at it and you just immediately know that is a Switch. And I think they are banking on that to avoid the confusion that they had with the Wii U Ha: Gearoid, it seems like there really isn't another hybrid machine on the market that can really compete with the Switch. Is that going to change anytime soon? Reidy: There are rumors that both Microsoft and Sony are looking at doing some sort of portable device. I wouldn't be surprised to see one or either of those companies come out with a device that was a portable. However, what I would say there is that Nintendo has a moat that is very hard for any competitor to copy. It's not the unique design of the Switch, which, you know, at this stage is nearly a decade since it was first announced. It is their incredible range of intellectual property. And I think any competitor who tried to go against Nintendo, even with something similar, does not have that range of games and experience to fall back on. Ha: And that's what investors and diehard Nintendo fans are banking on… Linus Tech Tip: Nintendo spends a shocking amount of time and energy antagonizing the gaming community. And yet I bought a Wii. I bought a Wii U, I bought a Switch. I bought an OLED Switch, and I'm gonna buy a Switch 2. Why? Because nobody does what Nintendo. More stories like this are available on
RTÉ News
5 days ago
- General
- RTÉ News
Workers to observe nationwide moment of reflection for Gaza
Workers across Ireland are expected to participate in a moment of reflection at lunchtime today amid the going violence in Gaza. The Irish Congress of Trade Unions (ICTU) has asked that at 1:05pm, participating workers mark a moment of respectful reflection, as a simple act of solidarity and remembrance for the loss of life over the past eighteen months. Today is the International UN Day of Innocent Children Victims of Aggression. "As the appalling violence in Gaza continues, our members asked that the trade union movement lead in reflecting on this terrible loss of life," said ICTU General Secretary Owen Reidy. "Since announcing the moment of reflection last week, we have been heartened by the response from the 800,000 union members across the island." "The UN Day of Innocent Children Victims of Aggression provides an opportunity to pause and reflect on these tragic events and their devastating impact on the people of Gaza, particularly the children who have suffered so greatly," Mr Reidy said. Workers who wish to participate are encouraged to observe the moment of reflection respectfully, whether in their workplace, at home, or wherever they may be. ICTU said the moment of reflection is not a work stoppage, and is encouraging participating workers to coordinate with their employers where possible. SIPTU staff and members will stage a solidarity action at 1.05pm, on Butt Bridge in Dublin across from the 'Ceasefire Now' banner on the side of Liberty Hall.
The Age
21-05-2025
- The Age
Man who covertly swallowed cyanide during arrest had bought the poison online
'Phillip was a caring person who found it difficult to express himself,' she said. 'I feel these missed opportunities in his education meant he did not become the man he could have been.' Reidy used fraudulent details to buy 250 grams of sodium cyanide online from an interstate supplier in July 2023 for $153. The supplier asked him to fill out and sign a form to prove his credentials for an exemption to buy the chemical. That exemption does not exist in Victorian law. Lawrie said Reidy's form should have raised serious concerns as a 'quick internet search' showed the scientific organisation that Reidy claimed to be buying for was actually a blockchain company. The qualification section was also left incomplete. The coroner rejected the supplier's submission that it could only take the form on face value. 'The falsity of the document should have been immediately suspected, and even basic enquiries would have shown the document for what it was,' he said. Lawrie also said it was 'confounding' that Australia did not have consistent national regulations for poisons, despite having a federal poison classification scheme. After ordering the cyanide – infamously used in the Jonestown Massacre and by several prominent Nazis – Reidy told his mother about the purchase, but she did not believe him. Reidy's mental health had deteriorated when he lost money in cryptocurrency and another scam in 2021. He had also been previously arrested for domestic violence, leading him to tell him mum that he'd take his own life if she died, or if he was arrested again. Loading The month before his death, Reidy got into another argument with his partner and slapped her in the face. He later put some cyanide into a drink and threatened to consume it before his partner calmed him. On the day of his death, Reidy cut his finger as he took out the rubbish. He blamed his partner and was captured on CCTV grabbing her throat and throwing her to the floor. His partner then went to Kyneton police station to report the incident, and warned the officer taking her statement that Reidy had cyanide and had almost used it before. But the officer failed to mention this when she briefed her colleague, telling the court in a statement that she was focused on the family violence instead. When other officers went to Reidy's home later that day, they did not know about the cyanide threat. 'I conclude that this is an instance of human fallibility,' the coroner said. However, he said it was not possible to determine whether this would have caused officers to treat Reidy differently when they arrested him. Reidy's mother said her son's life was cut too short. 'I wish that his actions could have been prevented with better communication prior to his death,' Reidy's mother said. 'A child shouldn't die before his parents.'
Sydney Morning Herald
21-05-2025
- Sydney Morning Herald
Man who covertly swallowed cyanide during arrest had bought the poison online
'Phillip was a caring person who found it difficult to express himself,' she said. 'I feel these missed opportunities in his education meant he did not become the man he could have been.' Reidy used fraudulent details to buy 250 grams of sodium cyanide online from an interstate supplier in July 2023 for $153. The supplier asked him to fill out and sign a form to prove his credentials for an exemption to buy the chemical. That exemption does not exist in Victorian law. Lawrie said Reidy's form should have raised serious concerns as a 'quick internet search' showed the scientific organisation that Reidy claimed to be buying for was actually a blockchain company. The qualification section was also left incomplete. The coroner rejected the supplier's submission that it could only take the form on face value. 'The falsity of the document should have been immediately suspected, and even basic enquiries would have shown the document for what it was,' he said. Lawrie also said it was 'confounding' that Australia did not have consistent national regulations for poisons, despite having a federal poison classification scheme. After ordering the cyanide – infamously used in the Jonestown Massacre and by several prominent Nazis – Reidy told his mother about the purchase, but she did not believe him. Reidy's mental health had deteriorated when he lost money in cryptocurrency and another scam in 2021. He had also been previously arrested for domestic violence, leading him to tell him mum that he'd take his own life if she died, or if he was arrested again. Loading The month before his death, Reidy got into another argument with his partner and slapped her in the face. He later put some cyanide into a drink and threatened to consume it before his partner calmed him. On the day of his death, Reidy cut his finger as he took out the rubbish. He blamed his partner and was captured on CCTV grabbing her throat and throwing her to the floor. His partner then went to Kyneton police station to report the incident, and warned the officer taking her statement that Reidy had cyanide and had almost used it before. But the officer failed to mention this when she briefed her colleague, telling the court in a statement that she was focused on the family violence instead. When other officers went to Reidy's home later that day, they did not know about the cyanide threat. 'I conclude that this is an instance of human fallibility,' the coroner said. However, he said it was not possible to determine whether this would have caused officers to treat Reidy differently when they arrested him. Reidy's mother said her son's life was cut too short. 'I wish that his actions could have been prevented with better communication prior to his death,' Reidy's mother said. 'A child shouldn't die before his parents.'
Scoop
20-05-2025
- Business
- Scoop
Budget 2025 Continues Solid Investment In Rail
Press Release – KiwiRail KiwiRail is delighted by the announcement today that $461 million is being invested in the national rail network and a further $143.6 million in the Auckland and Wellington metro networks. A $600 million investment in Budget 2025 continues strong backing for New Zealand's rail network as a key part of New Zealand's transport system and to support the Government's economic growth strategy, KiwiRail Chief Executive Peter Reidy says. 'KiwiRail is delighted by the announcement today that $461 million is being invested in the national rail network and a further $143.6 million in the Auckland and Wellington metro networks. 'This significant investment will continue to enable KiwiRail to grow through the delivery of efficient, reliable freight services for export, import, and domestic freight customers, and help deliver reliable journeys for commuters in Auckland and Wellington. 'The Budget commitment, combined with KiwiRail's focus on improving productivity and asset utilisation, is key to a sustainable rail network for the future.' Mr Reidy says the $461 million funding commitment means the three-year Rail Network Investment Programme 2024-27 is funded so KiwiRail can efficiently look after the national rail network. 'This provides certainty for us to plan and effectively manage our work programme. It also provides certainty for our freight customers who rely on rail as a lower-carbon choice for moving all types of freight. 'In recent years, we have focussed on raising the standard of the national rail network for more reliable freight services to get our customers' goods to market. Rail carries 25 per cent of exports and upgrading our rail lines will contribute to the Government's goal of growing New Zealand's export economy. 'KiwiRail did not seek Budget funding for our commercial freight business, as new locomotives and wagons are arriving in the next few years to replace much of our aging fleet, thanks to previous shareholder investment to boost our ability to serve the market.' Mr Reidy says the $143.6 million for the metros means KiwiRail will continue addressing overdue rail infrastructure renewals in Auckland and Wellington to 2027, overcoming historic underinvestment in both cities where maintenance funding has not kept pace with the increased wear and tear as metro patronage has grown. 'We will continue replacing aging infrastructure that results in track faults, which can delay or cancel passenger trains. Work will include replacing end-of-life turnouts (which allow trains to switch between tracks), worn sleepers and rail and improving track foundations. Work will also be done on improving drainage in the rail corridor, and in Wellington there will be additional slope and coastal protection, to improve resilience so that people who take the train will be less affected by weather events. 'While we have made good progress in recent years, there is still a lot of work to do to get the metro networks up to standard. This Budget 2025 investment will help deliver more reliable trains for the people of Auckland and Wellington and set the stage for more frequent trains to come.'
