Nintendo faced a 6% decline in its stock value on Monday following reports from gaming media and Bloomberg indicating a delay in the launch of its next-generation console. Previously anticipated for a release later this year, the successor to the popular Switch console is now rumored to be postponed until early 2025. Despite Nintendo not officially confirming details about a new device, industry expectations have been high for an updated console.
Nintendo has maintained a reputation for innovation in both hardware and software, and the company acknowledged ongoing work on new products. The Kyoto-based gaming giant is believed to be developing a successor to the aging Switch console, which has been a consistent performer in the market. The recent upward adjustment in the full-year sales forecast for the Switch reflects its enduring popularity, even as it approaches its eighth year in circulation.
Nintendo President Shuntaro Furukawa emphasized the desire to sustain the momentum of the Switch business during an earnings briefing earlier this month. While the delay reports have impacted investor confidence, the gaming community awaits official statements from Nintendo regarding the timeline for its next-generation console release.