Nintendo Says Announcement on Switch Successor 'This Fiscal Year'
upstart writes:
Nintendo says announcement on Switch successor 'this fiscal year':
Nintendo said Tuesday it will make an announcement about a highly anticipated new console by the end of March 2025 as sales decline of the hugely popular Switch, which is now in its eighth year.
Despite logging a record net profit in the year to March, helped by the weak yen, the game giant expects net profit to drop nearly 40% in the current financial year.
Players and investors have been hungry for news about a successor to the Switch, and the company said a statement was finally forthcoming.
[...] Bloomberg Intelligence analyst Nathan Naidu said before the earnings release that Nintendo consoles typically have a "six-to-seven year lifecycle."
"Given hardware drives about 40% of total sales, its drag on (the) overall top line might extend into fiscal 2025 absent a new gaming gadget," he said.
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