Nintendo announced on Tuesday that it expects a further decline in sales for its aging Switch console, projecting sales of 15 million units in the financial year ending March 2024. This marks a 17% annual drop, resulting in a third consecutive year of decline for the console.
The video game company acknowledged the slowing demand for the Switch, which has been on the market for seven years and is struggling to maintain its sales. Despite easing supply chain issues and a bolstered games lineup, Nintendo’s President, Shuntaro Furukawa, stated at a press conference that it’s challenging to maintain the same sales pace and expects new users to come to the hybrid device.
The stockholders are now focused on a potential successor to the console, which has already sold over 125 million units. Serkan Toto, founder of the Kantan Games consultancy, stated that the decline indicates that there won’t be a launch of a Switch 2 or new hardware anytime soon.
Nintendo’s roster of popular characters has been emphasized recently with the success of The Super Mario Bros. Movie. The company is diversifying beyond its core console business, and Furukawa said the film has outperformed expectations.
On Friday, Nintendo will launch its highly anticipated game, The Legend of Zelda: Tears of the Kingdom, with the orders progressing well, according to Furukawa.
Meanwhile, Nintendo’s operating profit fell 15% year-on-year to 504.38 billion yen ($3.73 billion) in the year ended March. The company expects profits to decline by 11% to 450 billion yen in the current financial year.
© Thomson Reuters 2023
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
Denial of responsibility! TechCodex is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessory action within 24 hours.
Eugen Boglaru is an AI aficionado covering the fascinating and rapidly advancing field of Artificial Intelligence. From machine learning breakthroughs to ethical considerations, Eugen provides readers with a deep dive into the world of AI, demystifying complex concepts and exploring the transformative impact of intelligent technologies.