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The surprise announcement by Nintendo that Super Mario the popular video game would debut on the new iPhone from Apple propelled shares much higher Thursday on the hopes the company had finally embraced the world of mobile gaming.
Investors bet that the new game, known as Super Mario Run, is going to be another mobile winner for the company based in Japan that is akin to the hugely popular Pokemon Go, as the company moves from its strategy of focusing on consoles and embraces gaming on the go.
On Japanese securities analyst said that launching a Nintendo character that is well known on the iPhone a globally penetrated mobile device is a best possible scenario that investors could have hoped for.
Nintendo said it is launching the new games in December in the App Store for Apple. The company with a $39 billion market capitalization did not mention when Android devices would have a version of the game.
Nintendo stock was up by 13% to end the trading day at its highest prices since late in July. The increase added more than $4.5 billion to the market value of the company following the news being released about the game at the Apple iPhone launch event.
The creator of Mario, the puppet-inspired character, Shigeru Miyamoto gave a demonstration of the new game on Wednesday during the launch of the iPhone 7.
Players can control Mario through a maze of obstacle course during which time they collect coins. On the higher levels of the game, players are able to compete with other game players to score and create a kingdom.
Miyamoto said that Super Mario evolved each time he has found a new platform.
He added during a prepared statement on Thursday that for just the first time ever, Super Mario players can enjoy a full fledged game of Super Mario with only one hand which gives them the freedom of playing on the subway or while have lunch.
As games like Angry Birds and Candy Crush captured the majority of casual gaming players and the console sales for Nintendo struggled, investors started to question the strategy for the company of focusing at any cost on consoles.
For years, Nintendo resisted the introduction of mobile games with its top rated characters in an attempt to protect the sales of its consoles, even as that strategy produced a run of operating losses.