NUTS FOR NINTENDO – ABC News Special (1988)
Nintendo Co., Ltd.[a] is a Japanese multinational consumer electronics and video game company headquartered in Kyoto. Nintendo is one of the world’s largest video game companies by market capitalization, creating some of the best-known and top-selling video game franchises, such as Mario, The Legend of Zelda, and Pokémon.
Founded on 23 September 1889 by Fusajiro Yamauchi, it originally produced handmade hanafuda playing cards. By 1963, the company had tried several small niche businesses, such as cab services and love hotels. Abandoning previous ventures in favor of toys in the 1960s, Nintendo developed into a video game company in the 1970s, ultimately becoming one of the most influential in the industry and one of Japan’s most-valuable companies with a market value of over $37 billion in 2018.
The Nintendo Entertainment System (NES) is an 8-bit home video game console developed and manufactured by Nintendo. It is a remodeled export version of the company’s Family Computer[a] (FC) platform in Japan, commonly known as the Famicom[b], which was launched on July 15, 1983. The NES was launched in the test markets of New York City and Los Angeles in 1985, with a full launch in the rest of North America and parts of Europe in 1986, followed by Australia and other European countries in 1987. Brazil saw only unlicensed clones until the official local release in 1993. In South Korea, it was packaged as the Hyundai Comboy[c] and distributed by Hyundai Electronics which is now SK Hynix; the Comboy was released in 1989.
The best-selling gaming console of its time,:349e[›] the NES helped revitalize the US video game industry following the North American video game crash of 1983. With the NES, Nintendo introduced a now-standard business model of licensing third-party developers, authorizing them to produce and distribute titles for Nintendo’s platform. It had been preceded by Nintendo’s first home video game console, the Color TV-Game, and was succeeded by the Super Nintendo Entertainment System (SNES).