Nintendo Lowers Sales Forecast Amid Anticipation for Switch Successor
Nintendo has revised its full-year sales projections for its aging Switch console, reducing its previous estimate by 12% to 11 million units. This adjustment comes ahead of the anticipated launch of a successor device later this year.
The company also announced a 22.2% reduction in its operating profit forecast, now projecting 280 billion yen ($1.8 billion) for the financial year ending in March. Despite expanding into retail and entertainment ventures, Nintendo's revenue remains heavily reliant on its console business.
During the April-December period, Nintendo sold approximately 9.54 million Switch units. In January, the company revealed plans to release a successor to the Switch this year. The Switch 2 is said to closely resemble its predecessor, which has been a significant driver of Nintendo's financial success since the underperformance of the Wii U.
For the April-December period, Nintendo's profit declined by 46.7% to 247.6 billion yen ($1 = 155.2900 yen).