Despite waning Wii sales and disappointing financial results, Nintendo beat out competition from the likes of Apple, Anheuser-Busch and Amazon to be named the world's best company by BusinessWeek magazine.
Nintendo was the only videogames-focused company on the list, which also included tech giants Google and Oracle, chemicals giants like Monsanto, and oil and gas companies like ExxonMobil. BusinessWeek described the list's criteria as including "a commitment to innovation, diversified portfolios, aggressive expansion, strong leadership, and a clear vision for the future" -- and looking over Nintendo's remarkable return to dominance in the video games world amid worldwide economic malaise, we're not going to argue with their findings.
So what makes the company so impressive? BusinessWeek called Nintendo's strategy "emblematic" of the tech companies on the list.
"Its sales have risen 36% annually over the past five years, while its value growth averaged 38%," it said. "Despite the hard times of the past year, Nintendo's continued emphasis on innovation has helped the company develop must-haves such as the DS handheld game machine and the Wii console, which outsold rival offerings from Sony and Microsoft."
Neither Sony nor Microsoft placed on the list, and it's Nintendo's first time at the top. Last year's list, produced amid the worst of the credit crunch, was dominated by energy, metals, and mining companies. And although sales of Nintendo's flagship Wii console have been floundering of late, its recent $50 price cut is widely expected to shore up the numbers. Either way, we're betting a lot of Nintendo execs are smiling today.
3DS: tolu619
Wii U: FoyehBoys
Vita, PS3 and PS4: FoyehBoys
XBoxOne: Tolu619
Switch: Tolu619
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