Nintendo reveals plans for highly anticipated successor

By Sam Nussey
TOKYO (Reuters) – Nintendo, the renowned Japanese gaming company, has recently adjusted its full-year sales forecast for the Nintendo Switch, reducing it by 12% to 11 million units. This adjustment comes as the current Switch console, now considered aging, experiences a decline in momentum while anticipation builds for the release of a successor device later this year. Despite expanding into other ventures such as retail stores and theme parks, Nintendo’s core business continues to revolve around its console offerings.

During an earnings briefing, Nintendo President Shuntaro Furukawa acknowledged that although the sales of both hardware and software have been strong in the eighth year, they have fallen short of the company’s initial projections. The total number of Switch units sold from April to December was reported at 9.54 million, bringing the cumulative sales figure to an impressive 150.86 million units.

In a recent announcement, Nintendo confirmed plans to launch a new iteration of its popular Switch console, referred to as the “Switch 2,” in the upcoming year. The design of the Switch 2 is expected to closely resemble that of its predecessor, the original Switch, which played a pivotal role in revitalizing Nintendo’s position in the gaming market following the lackluster performance of the Wii U.

As a result of these developments, Nintendo has revised its operating profit forecast for the fiscal year ending in March, decreasing it by 22.2% to 280 billion yen (equivalent to approximately $1.8 billion). In the period spanning from April to December, Nintendo experienced a decline in profit of 46.7%, with profits amounting to 247.6 billion yen.

($1 = 155.2900 yen)
(Reporting by Sam Nussey; Editing by Christian Schmollinger and Muralikumar Anantharaman)

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