Shares of Nintendo (7974.T) took a hit on Monday, plummeting by 6% following reports from gaming media and Bloomberg indicating a delay in the release of its next-generation console. According to the reports, the highly anticipated successor to the popular Switch console is now expected to launch in early 2025, rather than later this year.
While Nintendo has refrained from commenting on specific plans for a new device, the Kyoto-based gaming giant has acknowledged its ongoing efforts in developing new hardware and software. It is widely speculated that the company is gearing up to introduce a new device to succeed its aging Switch console.
Despite the setback in console release timelines, Nintendo recently revised its full-year sales forecast for the Switch upwards. This adjustment comes as the hybrid home-portable device continues to maintain its appeal among consumers, even as it approaches its eighth year in the market.
"We want to maintain the momentum of the Switch business," emphasized Nintendo President Shuntaro Furukawa during an earnings briefing earlier this month.
The market reaction to the delay underscores the significance of Nintendo's next-generation console in the gaming industry and the expectations surrounding its release. Investors and enthusiasts alike are keenly observing Nintendo's next moves as the company navigates the evolving landscape of gaming hardware and software.
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