Nintendo shares fell 6% on Monday after reports by games media and Bloomberg that its next-generation console will be delayed until early 2025 from later this year. While Nintendo has not commented on plans for a successor device beyond saying that it is always working on new hardware and software, the Kyoto-based gaming firm is widely expected to be planning to launch a new device to succeed its aging Switch console.
The company raised the full-year sales forecast for the Switch earlier this month as the hybrid home-portable device continues to attract consumers even as it nears its eighth year on the market. "We want to maintain the momentum of the Switch business," Nintendo President Shuntaro Furukawa told an earnings briefing at the time.
Analyst comment
Negative news. The delay in the release of Nintendo’s next-gen console is causing a 6% drop in their shares. However, the company is still focused on maintaining momentum with their current Switch console. Market may expect a temporary dip, but the long-term impact will depend on the success of the new device.
