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Nintendo shares slide after Switch 2 console reveal

by January 17, 2025
written by January 17, 2025

Investing.com– Shares of Japanese videogame giant Nintendo Co Ltd (TYO:7974) fell sharply on Friday as investors appeared to be little enthused by the long-awaited reveal of the successor to the Switch (NYSE:SWCH) console. 

Nintendo slid nearly 7% to 8,940.0 yen in Tokyo trade, compared to a 1.2% drop in the Nikkei 225 index. The drop was the stock’s biggest loss in three months.

Nintendo revealed the Switch 2 in a two-minute video on Thursday, but offered few details on specifications, stating that more details will be revealed in April.

The video showed that the Switch 2 will sport the same portable-home console hybrid form factor as its predecessor, with what appeared to be a bigger screen, magnetically-attached controllers and slight tweaks to its overall design. 

Nintendo said it will reveal more about the console- likely pricing and game details- in April, and that the console was set for a 2025 release.

Nintendo showcased a new version of Mario Kart during the Switch 2 reveal, and also said it will be backwards compatible with the Switch. 

But Thursday’s reveal yielded few surprises beyond what a barrage of leaks and insider comments had shown about the console. 

The Switch is one of Nintendo’s best-selling consoles, having sold nearly 150 million units since its release in 2017. This has been in large part driven by the company’s strong library of first-party games.

But slowing sales of the aging console weighed on Nintendo’s earnings in recent quarters, with the company also cutting its annual profit and sales forecasts.

This post appeared first on investing.com
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