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Nintendo Co. Ltd. shares plummeted after it was reported that it would not release the much-awaited Switch 2 on the original date. The news of the delay sent the shares tumbling by as much as 8.5% in Tokyo, Japan, on Monday, Feb. 19.
Expected New Date of Release
The decrease in Nintendo’s shares is the biggest intraday decline in a year. This happened after reports stated that the video game company decided to push back the rollout of the next edition of its Switch gaming console.
According to Bloomberg, Nintendo informed its game publishing partners that it had moved the date to later. The new time frame is within the early months of 2025, with March as the earliest. Then again, the company advised its partners not to expect until it formally announces the new generation of Switch’s release.
Investors on Their Nintendo Shares
Nintendo’s investors may unload their shares further due to the delay. This is because they have only acquired shares as they expect the firm to introduce the new Nintendo Switch console this year.
The company reached a record share price last week due to expectations for the successor of the Switch console. The number was said to be at an all-time high for the company.
Meanwhile, Investing.com reported that Nintendo first unveiled its portable Switch gaming console in 2017. It immediately became the third-highest-selling videogame console ever, with Nintendo DS and Sony’s PlayStation 2 securing the first two highest spots.
It has sold almost 140 million units since its release. However, sales have started to slow down in recent years due to increasing discontent from users due to the Switch’s apparent lack of processing power compared to rivals like the PlayStation 5 and the Xbox Series X.
Photo by: Manny Moreno/Unsplash
