Nintendo shares dropped by almost 6% following reports of a delay in the Switch 2 release until 2025

19.02.2024

 

Nintendo’s shares experienced a decline on Monday following a report indicating a potential delay in the launch of the Switch 2, the upcoming iteration of its popular gaming console. The stock in Japan closed 5.84% lower as Nintendo reportedly informed game publishers about a postponement until the early months of 2025, according to sources familiar with the matter.

Originally aiming for a release toward the end of the current year, Nintendo communicated to game makers that the launch could be pushed into the following year. Investors had been driving up Nintendo’s stock by approximately 53% in the past year, anticipating the release of a new console that could provide a significant boost to the Japanese gaming giant.

Despite the current Switch being almost seven years old, Nintendo has successfully maintained momentum for the console, partly due to the recent release of the “Super Mario Bros. Movie” and a new Zelda game, both of which contributed to increased interest in the device.

In the ongoing fiscal year ending in March, Nintendo raised its forecast for Switch sales from 15 million units to 15.5 million units. However, the company has not disclosed much information about the successor to the Switch. If the reported delay is accurate and the launch indeed occurs in early 2025, Nintendo would miss the crucial holiday season in December.

Other news

Largest U.S. radio company Audacy files for bankruptcy protection – 08.01.2024

Audacy, the radio and podcast giant, said Sunday it filed plans for Chapter 11 bankruptcy protection in Texas to reduce its debt.

Read More

Elon Musk says Chinese EV makers will ‘pretty much demolish’ most competitors without trade barriers

Elon Musk said Chinese electric automakers will find “significant” success outside of China, even as his firm Tesla faces intense competition from these same companies.

Read More
en_USEnglish