Nintendo shares took a hit on Monday, dropping by 6%, following reports from gaming media and Bloomberg suggesting that the release of its anticipated successor to the Switch console may be delayed until early 2025, instead of the previously speculated launch later this year.
Although Nintendo has not officially confirmed any details regarding a new console, the company has acknowledged its continuous efforts in developing new hardware and software. Many industry observers anticipate that Nintendo is indeed working on a follow-up to the aging Switch console.
Despite the potential setback in the release timeline, Nintendo recently revised its full-year sales forecast for the Switch upwards. The enduring popularity of the hybrid home-portable device continues to resonate with consumers, even as it approaches its eighth year since initial release.
During an earnings briefing earlier this month, Nintendo President Shuntaro Furukawa emphasized the company’s commitment to sustaining the momentum of the Switch business.