Nintendo Is Now Worth More Than Sony And Has Pokémon Go To Thank

It’s been quite a good month for Nintendo, all because of this game you may have heard of, Pokémon Go. The company’s worth has more than doubled since the mobile game launched on July 6, sending its worth climbing past that of its fellow Japanese company, Sony, in short order.

While Sony has a video game business, a movie studio, a huge record company, and makes a plethora of consumer electronics, there’s one thing it doesn’t have — adorable little virtual monsters.

Nintendo makes gaming consoles as well, but it also has a one-third stake in the Pokémon parent company as well as an undisclosed stake in Niantic, the company that developed Pokémon Go.

This all makes Nintendo the more valuable company now, Buzzfeed News reports: ahead of the news of Pokémon Go’s Wednesday launch in Japan, the company’s stock shot up 14% on Tuesday, bringing it to a value of about $42 billion.

That’s double its value before the Pokémon Go launch, and a few billion more in stock value than Sony, which sits at around $38 billion. All this, created by a whole lot of people walking around with their eyes glued to their phones, chucking virtual balls at virtual creatures.

Nintendo’s Value Up $20 Billion Since Pokémon — Now Worth More Than Sony [Buzzfeed News]