Nintendo's biggest asset is their intellectual property portfolio with very strong franchises (Mario, Zelda, Donkey Kong, Star Fox, etc). In theory, any of thei

Nintendo's biggest asset is their intellectual property portfolio with very strong franchises (Mario, Zelda, Donkey Kong, Star Fox, etc). In theory, any of their games could run on a PC, or a rival console. But they leverage their IP to sell their subpar hardware. This business model worked great for decades, but as new strong players like Sony and Microsoft joined, now their influence and revenue is not enough to keep them afloat. Nintendo needs a share of the mobile gaming market, beyond handheld consoles. This is why they invested in DeNA (and DeNA invested in Nintendo).