Shares of Nintendo experienced a decline on Monday following a report indicating a potential delay in the launch of the Switch 2, the next iteration of its popular gaming console.
Nintendo’s stock in Japan concluded the day 5.84% lower.
According to Bloomberg’s report on Saturday, sources familiar with the matter revealed that Nintendo had informed game publishers about a possible postponement of the Switch 2 launch until the early months of 2025.
Initially targeting a release toward the end of this year, Nintendo cautioned game developers that the launch could be pushed into the following year.
Earlier predictions by analysts suggested a new Switch console might be introduced in the latter half of this year.
Nintendo’s stock has experienced significant growth over the past year, climbing approximately 53%, largely driven by anticipation surrounding the launch of a new console, which investors hoped would provide a boost to the Japanese gaming company.
Despite the current Switch nearing seven years since its debut, Nintendo has sustained momentum for the platform, buoyed by the release of the “Super Mario Bros. Movie” and a new Zelda game, both of which have reignited interest in the device.
Recently, Nintendo revised its forecast for Switch sales in the current fiscal year, increasing it from 15 million units to 15.5 million units.
However, details regarding the successor to the Switch have been kept under wraps by the company.
A potential delay in the device’s release, with a launch slated for early 2025, would mean missing out on the crucial holiday season in December.
Source-CNBC
