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Nintendo delays launch of smartphone videogame, shares plunge

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Chief Executive Tatsumi Kimishima (centre), a former banker who succeeded Satoru Iwata in September, said Nintendo decided on the delay to ensure stable service.

[TOKYO] Japan's Nintendo Co on Thursday pushed back the launch of its videogame service for smartphones to March 2016, a much-awaited move announced by its previous CEO who died earlier this year.

The news knocked Nintendo's shares down more than 10 per cent in morning trade, erasing earlier gains.

The company had previously planned to introduce its first smartphone games by the end of the calendar year, with fans and investors both hoping it would include its best-selling videogame franchise Mario in the first lineup.

Chief Executive Tatsumi Kimishima, a former banker who succeeded Satoru Iwata in September, said Nintendo decided on the delay to ensure stable service.

REUTERS