Gamers line up for Nintendo Switch 2 launch
A customers holds his Nintendo Switch 2 game consoles as Nintendo starts selling the new consoles globally, at an electronics store in Tokyo, Japan on Thursdaym June 5, 2025. REUTERS/Issei Kato
Gaming fans queued up for the launch of Nintendo's Switch 2 on Thursday, which is widely expected to be in short supply globally amid pent-up demand for the more powerful next-generation gaming device.
"The level of demand seems to be sky-high," said Serkan Toto, founder of the Kantan Games consultancy.
In the Ikebukuro shopping district of Tokyo, dozens of successful applicants to a sales lottery by electronics retailer Bic Camera 3048.T lined up before the store opened to collect their devices.
"I feel like I'm going to cry," Yumi Ohi, a 30 year-old delivery contractor, told Reuters.
Ohi had missed out in other lotteries and had come from Saitama prefecture, adjacent to Tokyo, to receive her Switch 2.
Nintendo has sold 152 million Switch home-portable devices since launching in 2017. It became a games juggernaut with titles including two "The Legend of Zelda" titles and COVID-19 pandemic breakout hit "Animal Crossing: New Horizons".
The Switch 2 bears many similarities with its predecessor but offers a larger screen and improved graphics and debuts with titles including "Mario Kart World".
"The much larger audience of Switch users should translate to stronger adoption in the opening part of its lifecycle," said Piers Harding-Rolls, an analyst at Ampere Analysis.
"Nintendo is better prepared this time around" to deal with the high demand, he said.
The launch of the $499.99 Switch 2 is a test of Nintendo's supply chain management during U.S. President Donald Trump's trade war.
Nintendo last month forecast sales of 15 million Switch 2 units during the current financial year, as well as 4.5 million Switch units.
President Shuntaro Furukawa said Nintendo will strengthen production capacity to respond to strong demand and focus on sales promotion in an effort to exceed the forecast.
"Given it's a special occasion, I wanted to buy (the Switch 2) right away on its release date," said Shinichi Sekiguchi, a hotel receptionist in his thirties.
Nintendo said it received 2.2 million applications for its Switch 2 sales lottery on its My Nintendo Store in Japan. Pre-orders at Target TGT.N sold out in less than two hours.
"You are looking at weeks or months until you can walk into a store and buy a Switch 2," said Toto of Kantan Games.
Investor expectations for the new device are similarly lofty.
Nintendo's shares are trading near highs and have gained almost 30% this year.
Concerns include whether momentum for the Switch 2 will be sustained after hardcore gamers have upgraded.
"The volume of first-party games on offer at launch isn't as strong as it could be, so some more casual users may wait and see how the games available build over the next one to two years before making the leap," said Ampere's Harding-Rolls.
Ampere forecasts Switch 2 sales to exceed 100 million units in 2030.
"Mario Kart World" has a U.S. sticker price of $79.99, generating debate over the price of games. Nintendo is also attracting third-party titles to the system.
"I've been around since the era of the Super Nintendo Entertainment System and games from (that period) were expensive too so I think it's somewhat within the acceptable range," said Akitomo Takahashi, a salesman in his forties.
Takahashi said he was keen to play action role-playing game "Elden Ring" on his Switch 2. —Reuters
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
GMA Network
2 days ago
- GMA Network
Canada's unemployment rate in May at almost nine-year high outside of COVID years
OTTAWA, Canada - Canada's unemployment rate in May jumped to its highest level in almost nine years outside of the pandemic era with 1.6 million jobless people in the country amid a constrained labor market, data showed on Friday. The unemployment rate ticked up to 7% in May from 6.9% in April, a third consecutive monthly increase, Statistics Canada said, adding that the total jobless people in May were almost 14% higher than what was seen a year ago. This was primarily driven by an almost flat employment growth amid a rising population, even though there were no major mass layoffs. This level of unemployment was last seen in September 2016 after the COVID-era unemployment numbers of 2020 and 2021 are excluded, Statscan said. "People are facing greater difficulties finding work in the current labor market," it said. The total number of people employed saw meager addition of 8,800 people. The employment number has a standard error margin of 32,000. Analysts polled by Reuters had forecast the unemployment rate to be at this level due to the impact of U.S. tariffs on Canada. They had estimated total employment number to drop by 12,500. Trump imposed tariffs in March on a variety of Canadian products, followed by on steel and aluminum, and later in April on automobiles. These have already led to fewer job additions and some layoffs. The Bank of Canada has said that the tariffs and the confusion over the scope and extent of them have created uncertainty that is hurting investments, hiring intentions and risking job losses, and this trend is likely to continue. This was evident in the duration of unemployment which has been consistently rising with jobless people spending an average of 21.8 weeks searching for work last month, up from 18.4 weeks from a year ago. The average hourly wage growth of permanent employees, a metric closely watched by the Canadian central bank to gauge inflationary trends, was unchanged at 3.5% in May. The employment number was driven by increase in wholesale and retail trade and was offset by drop in manufacturing and government jobs by 2.5% reflecting the expiration of election-related temporary hiring. — Reuters
GMA Network
4 days ago
- GMA Network
PH's P16.75-T debt lower than Asian neighbors —DOF
The Department of Finance (DOF) on Thursday reiterated that the country's rising sovereign debt remains at a sustainable level, noting that it is lower compared to its peers in the region. In a statement, the DOF said the national government's total outstanding debt of P16.75 trillion is 'relatively lower' than that of several countries in Asia. Citing the latest available data, the Finance Department said Japan's total debt was P485.94 trillion, Singapore's was P53.68 trillion, South Korea's was P46.89 trillion, Indonesia's was P31.37 trillion, and Thailand's was P17.73 trillion. Moreover, the DOF said it continues to manage the government's debt, bringing the debt-to-gross domestic product (GDP) ratio down below the post-pandemic internationally considered comfortable threshold of 70%. The Finance Department said when the Marcos administration came in 2022, it inherited a P12.79-trillion debt stock. Nearly half of it, or about P6.84 trillion, was due to efforts to boost state coffers for economic stimulus and response amid the COVID-19 pandemic. It surpassed the combined debt pile acquired by previous administrations (President Ferdinand Marcos Sr.'s P365 billion, President Corazon Aquino's P372 billion, President Fidel Ramos' P681 billion, President Joseph Estrada's P766 billion, President Gloria Arroyo's P2.40 trillion, and President Benigno Aquino III's P1.37 trillion). 'Despite inheriting the larger debt stock, the Department of Finance has already made improvements to the country's debt statistics by reducing the debt-to-GDP ratio to 60.7% in 2024 via a prudent debt management strategy,' the agency said. 'With the economy continuing to grow faster—reaching about P36.8 trillion in 2028—compared to its obligations, the country remains firmly on track to reduce the debt-to-GDP ratio to below 60% by the end of the President's term,' it added. As of the end of April this year, domestic debt continued to comprise the majority, or 69.2%, of the total debt stock, while external obligations accounted for 30.8%. 'Since a large chunk of the borrowing remains local, this means that the interest payments are being circulated back into the economy,' the DOF said. The Finance Department said the Marcos administration is adopting an 80:20 borrowing mix strategy in favor of domestic sources to support the development of local capital markets and mitigate foreign exchange risks. 'Moreover, 91.5% of the government's borrowing consists of fixed interest rates, which shields the country from sudden increases in interest and exchange rates,' it said. 'On the other hand, 81.3% of the country's borrowings have long-term repayment periods, creating ample fiscal space for the government to allocate funds to grow the economy,' it added. The DOF said that with intensified tax administration efforts, the government's tax collections continue to post double-digit increases, 'allowing the government to fund the President's priority programs and projects without imposing new taxes on the people and keeping debt growth well within sustainable levels.' For the first four months of the year, tax collections grew by double digits to 11.49%, reaching P1.43 trillion. The DOF expressed confidence that it would hit its collection targets for 2025. In particular, the Bureau of Internal Revenue (BIR) collected P1.11 trillion as of end-April, up 14.50% year-on-year. The Bureau of Customs (BOC), on the other hand, booked P306.1 billion in collections during the period, up 2.16% from a year ago. The DOF said the country's fiscal deficit has also been steadily narrowing, dropping to 5.7% of GDP in 2024 —from the pandemic peak of 8.6% in 2021, 7.3% in 2022, and 6.2% in 2023. 'This is on track to decline to about 3.8% by 2028,' the Finance Department said. 'The government's strict adherence to fiscal discipline has earned it a recent credit rating upgrade of A- from Japan's Rating and Investment Information Inc. (R&I) and an outlook upgrade to positive from S&P Global,' it said. The DOF said that securing a credit rating upgrade and affirmation signals high investor confidence in the Philippines' economic performance, increasing investor interest in Philippine bonds, and resulting in lower borrowing costs for the government. 'In return, these borrowings are reinvested into the economy through growth-enhancing investments, such as infrastructure, education, agriculture, health, and social services that produce more jobs for the Filipino people,' it said. —VBL, GMA Integrated News
GMA Network
4 days ago
- GMA Network
Gamers line up for Nintendo Switch 2 launch
A customers holds his Nintendo Switch 2 game consoles as Nintendo starts selling the new consoles globally, at an electronics store in Tokyo, Japan on Thursdaym June 5, 2025. REUTERS/Issei Kato Gaming fans queued up for the launch of Nintendo's Switch 2 on Thursday, which is widely expected to be in short supply globally amid pent-up demand for the more powerful next-generation gaming device. "The level of demand seems to be sky-high," said Serkan Toto, founder of the Kantan Games consultancy. In the Ikebukuro shopping district of Tokyo, dozens of successful applicants to a sales lottery by electronics retailer Bic Camera 3048.T lined up before the store opened to collect their devices. "I feel like I'm going to cry," Yumi Ohi, a 30 year-old delivery contractor, told Reuters. Ohi had missed out in other lotteries and had come from Saitama prefecture, adjacent to Tokyo, to receive her Switch 2. Nintendo has sold 152 million Switch home-portable devices since launching in 2017. It became a games juggernaut with titles including two "The Legend of Zelda" titles and COVID-19 pandemic breakout hit "Animal Crossing: New Horizons". The Switch 2 bears many similarities with its predecessor but offers a larger screen and improved graphics and debuts with titles including "Mario Kart World". "The much larger audience of Switch users should translate to stronger adoption in the opening part of its lifecycle," said Piers Harding-Rolls, an analyst at Ampere Analysis. "Nintendo is better prepared this time around" to deal with the high demand, he said. The launch of the $499.99 Switch 2 is a test of Nintendo's supply chain management during U.S. President Donald Trump's trade war. Nintendo last month forecast sales of 15 million Switch 2 units during the current financial year, as well as 4.5 million Switch units. President Shuntaro Furukawa said Nintendo will strengthen production capacity to respond to strong demand and focus on sales promotion in an effort to exceed the forecast. "Given it's a special occasion, I wanted to buy (the Switch 2) right away on its release date," said Shinichi Sekiguchi, a hotel receptionist in his thirties. Nintendo said it received 2.2 million applications for its Switch 2 sales lottery on its My Nintendo Store in Japan. Pre-orders at Target TGT.N sold out in less than two hours. "You are looking at weeks or months until you can walk into a store and buy a Switch 2," said Toto of Kantan Games. Investor expectations for the new device are similarly lofty. Nintendo's shares are trading near highs and have gained almost 30% this year. Concerns include whether momentum for the Switch 2 will be sustained after hardcore gamers have upgraded. "The volume of first-party games on offer at launch isn't as strong as it could be, so some more casual users may wait and see how the games available build over the next one to two years before making the leap," said Ampere's Harding-Rolls. Ampere forecasts Switch 2 sales to exceed 100 million units in 2030. "Mario Kart World" has a U.S. sticker price of $79.99, generating debate over the price of games. Nintendo is also attracting third-party titles to the system. "I've been around since the era of the Super Nintendo Entertainment System and games from (that period) were expensive too so I think it's somewhat within the acceptable range," said Akitomo Takahashi, a salesman in his forties. Takahashi said he was keen to play action role-playing game "Elden Ring" on his Switch 2. —Reuters
