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Nintendo's quarterly earnings highlight a significant decrease in Switch sales and profits, increasing pressure for the anticipated launch of a new console.
Nintendo Sales Plummet
Nintendo reported a precipitous decline in sales and profits for the first quarter ending in June, with the company's aging Switch console accounting for over half of those losses.
According to Reuters, despite maintaining its full-year sales projection of 13.5 million units, the Kyoto-based game company sold just 2.1 million copies of the Switch during the quarter. The Switch is now in its eighth year.
The business has stated its intention to announce a new product in the current fiscal year.
Analysts had predicted an operating profit of 54.5 billion yen ($365 million), but it fell 71% short, falling more than a third short.
Revenue Drops 54%
Per AOL, revenue for its mobile and IP-related division fell to 14.7 billion yen, a 54% decline from the same period last year, when earnings were buoyed by the popular "Super Mario Bros." movie.
"Nintendo were overly optimistic about the current year," comments Serkan Toto, founder of Kantan Games, a consultancy for the gaming sector.
Pressure for Switch 2
He claimed, "The numbers increase the pressure on Nintendo regarding a Switch 2 reveal," and that the company should expect a dismal July-September period as well.
"The Legend of Zelda: Echoes of Wisdom" and "Mario & Luigi: Brothership" are among Nintendo's modestly sized announced releases for this year ().
April 2026 is the scheduled release date of the next "Super Mario" film. One more thing: the business has stated its intention to work on a live-action "The Legend of Zelda" film.
A combination of limited pricing power and increasing costs is a problem for the gaming sector. This Monday, creator Bungie, which is owned by Sony, said that it is laying off over 20% of its employees.
Nintendo stock dropped 2.3% in Tokyo on the eve of the results report but is up 7.6% for the year thus far.
