First generation of video game consoles
This was also the first involvement of Nintendo in video games. According to Martin Picard in the "International Journal of Computer Game Research": "in 1971, Nintendo had -- even before the marketing of the first home console in the United States -- an alliance with the American pioneer Magnavox to develop and produce optoelectronic guns for the Odyssey (released in 1972), since it was similar to what Nintendo was able to offer in the Japanese toy market in 1970s".
History of Nintendo
Following the aforementioned success, in 1963 "Nintendo Playing Card Co., Ltd." was renamed to "Nintendo" by Yamauchi. Nintendo now began to experiment in other areas of business using the newly injected capital. During the period of time between 1963 and 1968, Nintendo set up a taxi company, "love hotel" chain, food company (trying to sell instant rice, similar to instant noodles) and several other things (including a vacuum cleaner, Chiritory, which later appeared in a two-player minigame in "" in 2003). All these ventures eventually failed, except toymaking, where they had some earlier experience from selling playing cards. In 1964, while Japan was experiencing an economic boom due to the Tokyo Olympics, the playing card business reached its saturation point. Japanese households stopped buying playing cards, and the price of Nintendo stock fell from 900 yen to 60 yen.