The videogame company reported earnings earlier this month, and said it now expects to sell 15.5 million Switch consoles through the year ending in March, up from a previous forecast of 15 million. However, revenue fell 6% year over year.
Nintendo shares slide on reports of delayed Switch successor release
- By Reuters -
- Feb 19, 2024
TOKYO: Nintendo (7974.T), opens new tab shares fell 6% on Monday after reports by games media and Bloomberg that its next-generation console will be delayed until early 2025 from later this year.
While Nintendo has not commented on plans for a successor device beyond saying that it is always working on new hardware and software, the Kyoto-based gaming firm is widely expected to be planning to launch a new device to succeed its aging Switch console.
The company raised the full-year sales forecast for the Switch earlier this month as the hybrid home-portable device continues to attract consumers even as it nears its eighth year on the market.
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“We want to maintain the momentum of the Switch business,” Nintendo President Shuntaro Furukawa told an earnings briefing at the time.