Nintendo shares fell in Tokyo trading on Monday after Bloomberg News reported that the company would postpone its next-generation video game console until 2025.
Bloomberg reported that the Nintendo 7974,
It has told some of its game publishing partners that the Switch console's successor won't be released until March 2025, at the earliest. This was expected to happen in late 2024.
Bloomberg reports that the delay likely means Nintendo will also delay the launch of major new games until the new console is released. Switch was launched in 2017.
Nintendo did not immediately respond to a request for comment.
Nintendo shares fell about 7% in Tokyo. The stock has risen more than 50% over the past year, reaching an all-time high last week.
The video game company reported earnings earlier this month and said it now expects to sell 15.5 million Switch consoles during the year ending in March, up from a previous forecast of 15 million. However, revenue fell by 6% year over year. Nintendo didn't provide a timeline for a Switch successor in its report or earnings call, but said “it takes a long time and extensive planning to prepare for new hardware.”
