Gaming giant prepares to unveil the future of handheld gaming as Nintendo Switch sales soar but profits are predicted to dip.
Nintendo has officially announced plans to reveal the successor to its wildly popular Switch console within the current fiscal year, ending in March 2025. This news comes alongside a forecast of decreased profits, hinting at the company’s strategic shift towards the next generation of gaming hardware.
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While details remain scarce, Nintendo President Shuntaro Furukawa confirmed the upcoming console announcement during the fiscal year. However, fans shouldn’t expect any sneak peeks at the June Nintendo Direct event. This strategic move builds anticipation and allows Nintendo to focus on the current Switch’s strong performance.
Nintendo Switch Sales Soar, but the Future Beckons
Despite its age, the Switch continues to exceed expectations, with 15.7 million units sold in the last fiscal year. However, Nintendo predicts a decline to 13.5 million units in the coming year, prompting the need for a fresh successor to maintain its market dominance.
Here’s how Nintendo did in its fiscal fourth quarter versus LSEG estimates:
- Revenue: 277.1 billion Japanese yen ($1.8 billion) versus 280.6 billion yen expected.
- Net profit: 82.6 billion yen versus 57.2 billion yen expected.
Fiscal fourth quarter revenue fell nearly 10% year-on-year while net profit dropped 4.5%.
For the full fiscal year ended March 2024, Nintendo said sales totaled 1.7 trillion yen, beating analyst estimates. That’s a 4.4% year-on-year rise. Net profit came in at 490.6 billion yen, beating market estimates, and up 13.4% year-on-year.
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