Latest news with #NintendoSwitch2Experience
Business Mayor
08-05-2025
- Business
- Business Mayor
Nintendo forecasts sales of 15 million Switch 2 consoles as it gears up for launch
Nintendo said Thursday that it expects to sell 15 million units of its new Switch 2 console in the fiscal year ending March 2026. It is the first forecast for sales from the Japanese gaming giant since it announced the successor to its successful Switch device, which is due to go on sale in June. Nintendo also reported results for its fiscal fourth quarter and full year. Here's how Nintendo did in its fiscal fourth quarter ended Mar. 31 versus LSEG estimates: Revenue : 208.7 billion Japanese yen ($1.45 billion), compared with 216.16 billion yen expected. : 208.7 billion Japanese yen ($1.45 billion), compared with 216.16 billion yen expected. Net profit: 41.6 billion yen, versus 33.91 billion yen expected. Revenue fell 24.7% in the fourth quarter compared to the same period a year earlier, while profit plunged nearly 50%. This was largely expected as Nintendo fans await the Switch 2 and hold off on buying the current console. Earlier this year Nintendo slashed its forecast for sales of the Switch to 11 million units for the year ended Mar. 31. Nintendo on Thursday said it sold 10.8 million units of the Switch in the year, just shy of its own forecast and down 31% year-on-year. Market research firm Omdia expects Nintendo to sell 14.7 million Switch 2 units in 2025 alone, which would be about 10% ahead of the original Switch's debut year. 'Switch 2 will launch into a stronger position than its predecessor, with over 100 million active Switch users providing a strong foundation for adoption,' George Jijiashvili, Omdia's senior principal analyst, told CNBC by email. Tariffs in focus Investors are also focused on Nintendo's forecast for the fiscal year. The company expects net sales of 1.9 trillion yen, a 63% year-on-year rise but just short of LSEG estimates of 2 trillion yen. It expects net profit to jump 7.6% to 300 billion yen, below LSEG estimates of 388.8 billion yen. However, Nintendo noted that all of its forecasts are based on U.S. tariff rates effective Apr. 10 — following a pause in U.S. President Donald Trump's reciprocal tariffs for many countries. Nintendo in April delayed pre-orders for the Switch 2 in the U.S. after the initial announcement of Trump's sweeping tariffs on countries around the world. Nintendo's consoles are manufactured in Vietnam, which faces duties of 46% once the pause lifts. Attendees walk past an advertising board during the Nintendo Switch 2 Experience at the ExCeL London international exhibition and convention centre in London, Britain, April 11, 2025. Isabel Infantes | Reuters Nintendo's President Shuntaro Furukawa said on Thursday that if additional tariffs are imposed and prices of its goods need to be adjusted, demand in the U.S. may decrease, Reuters reported. Duties could hit profit to the tune of tens of billions of yen, Furukawa added, according to the report. Serkan Toto, CEO of Tokyo-based games consultancy Kantan Games, said Nintendo's forecasts are typically conservative. 'Nintendo loves lowballing their forecasts, and the current climate around tariffs gives them all the reason to be more cautious than ever,' Toto told CNBC. He added that tariffs are creating an 'unclear future' for Nintendo, making it 'impossible' for any hardware maker to make sales predictions. 'What happens if the tariffs on imports from China stay this high for longer or if they are raised for Vietnam?' Toto said. 'If Nintendo needed to raise prices by $100 or more, all bets would be off and the company would be under enormous pressure in the all important U.S. market.' Read More How TikTok's rise sparked a short-form video race Switch 2 fuels stock rally Investors are now focused on how the successor to the console, the Switch 2, will perform following its launch. The Switch 2 will start at $449.99 in the U.S. and has improved features compared with its predecessor. As well as the 15 million unit sales forecast for the fiscal year ending March 2026, Nintendo said it expects to sell 45 million units of software during the same period. Games are important for the success of any console and Nintendo said the Switch 2 will launch with two titles — 'Mario Kart World' and 'Nintendo Switch 2 Welcome Tour.' There will also be Switch 2 versions of existing games such as 'Zelda: Breath of the Wild.' Nintendo is leaning on its popular characters such as Mario and Zelda to boost the appeal of the Switch 2. Nintendo first launched the original Switch in 2017 and it has become the Japanese gaming giant's second-best-selling console ever with over 150 million units sold. The firm managed to extend the life of the hardware thanks to hit games involving characters like Super Mario, franchises such as Pokemon and the expansion of its intellectual property into films. Investors are hopeful the company can continue to ride its wave of popularity with shares up around 30% this year and 64% over the past 12 months. READ SOURCE
CNBC
08-05-2025
- Business
- CNBC
Nintendo forecasts sales of 15 million Switch 2 consoles as it gears up for launch
Attendees walk past an advertising board during the Nintendo Switch 2 Experience at the ExCeL London international exhibition and convention centre in London, Britain, April 11, 2025. Nintendo said Thursday that it expects to sell 15 million units of its new Switch 2 console in the fiscal year ending March 2026. It is the first forecast for sales from the Japanese gaming giant since it announced the successor to its successful Switch device. Earlier this year Nintendo slashed its forecast for sales of the Switch to 11 million units for the year ended Mar. 31. Nintendo on Thursday said it sold 10.8 million units of the Switch in the year, just shy of its own forecast and down 31% year-on-year. Investors are now focused on how the successor to the console, the Switch 2, will perform when it goes on sale in June. The Switch 2 will start at $449.99 in the U.S. and has improved features compared with its predecessor. Nintendo first launched the original Switch in 2017 and it has become the Japanese gaming giant's second-best-selling console ever. The firm managed to extend the life of the hardware thanks to hit games involving characters like Super Mario, franchises such as Pokemon and the expansion of its intellectual property into films. Investors are hopeful the company can continue to ride its wave of popularity with shares up 33% this year. However, the Japanese gaming giant in April delayed pre-orders for the Switch 2 in the U.S. after President Donald Trump announced sweeping tariffs on countries around the world. Nintendo's consoles are manufactured in Vietnam. This is a breaking news story. Please refresh for updates.
Straits Times
28-04-2025
- Business
- Straits Times
Japan's Nintendo fans test Switch 2 ahead of launch amid tariff worries
An attendee plays with the Nintendo Switch 2 gaming device at a media event in Tokyo on April 3. PHOTO: REUTERS CHIBA, Japan - Nintendo fans were given a chance to try out the company's new Switch 2 gaming device at an event near Tokyo on April 26, ahead of a release that some worry could be overshadowed by tariffs driving up prices. 'Since Mr Trump became president, tariffs have gone up, so I am concerned about a price hike not just for the game console but for accessories too,' said Mr Hidenori Tanaka, 55, a real estate company employee, who attended the event. Consumers around the world could face higher prices for electronic devices as tariffs imposed by United States President Donald Trump's administration on trading partners, including China, raise costs for companies operating global supply chains. While Mr Trump has rolled back some tariffs, the threat of a damaging trade war still looms. Gamers at the pre-launch event began lining up outside the Makuhari Messe convention centre near Tokyo from mid-morning to play Mario Kart World, Donkey Kong Bonanza, and other titles on the Switch 2. An attendee plays Mario Kart World by Nintendo Switch 2 during the Nintendo Switch 2 Experience at the ExCeL London international exhibition and convention centre in London on April 11. PHOTO: REUTERS Despite the possibility of higher prices, there are early indicators of robust consumer demand for the successor to the Switch, which has sold more than 150 million units since 2017 and transformed Nintendo's fortunes. The Kyoto-based gaming company said on April 23 it had received 2.2 million applications in the lottery for Switch 2 in Japan and could not fulfil all the demand. 'Honestly, I didn't think I had a shot. Everyone on social media was saying they missed out, so I figured I would too,' said Mr Hyuma Hashiguchi, 28, who won the lottery to be among the first to buy the Switch 2. Nintendo is holding hands-on events around the world including in New York, Berlin and Hong Kong. The Switch 2 will sell for 49,980 yen (S$460) for a Japanese-language-only version. In the US, Nintendo initially paused pre-orders due to tariff concerns but later said it would maintain pricing at US$449.99 (S$590). REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Cision Canada
25-04-2025
- Entertainment
- Cision Canada
/R E P E A T -- THE NINTENDO SWITCH 2 EXPERIENCE MAKES ITS ONLY CANADIAN STOP THIS WEEKEND IN TORONTO/
TORONTO, April 21, 2025 /CNW/ - From April 25-27, gaming fans in Toronto will get an exclusive first look at Nintendo's new gaming system when the Nintendo Switch 2 Experience touches down in the city. This hands-on, ticketed event has been touring the world since early April, including stops in major cities like New York and Paris. Toronto is the only Canadian stop on the tour. This event also marks the only opportunity fans will have to experience Nintendo Switch 2 before its June 5 launch. For more information about the Nintendo Switch 2 Experience, visit SOURCE Nintendo of Canada Ltd.
Yomiuri Shimbun
25-04-2025
- Entertainment
- Yomiuri Shimbun
Nintendo Switch 2 Preorders See ‘Overwhelming' Demand, Frustrations for Hopeful Buyers
Reuters An attendee plays Mario Kart World by Nintendo Switch 2 during the Nintendo Switch 2 Experience at the ExCeL London international exhibition and convention centre in London, Britain, April 11, 2025. NEW YORK (AP) — U.S. preorders for the Nintendo Switch 2 kicked off shortly after the clock struck midnight Thursday. But chaos soon ensued amid high demand. Scores of consumers hoping to be among the first to own Nintendo's latest gaming console — set to officially launch June 5 — jumped online to try and snag a preorder. And while some lucky buyers found success, many others ran into frustrating delays or saw listings quickly sell out at some participating retailers. Anxious shoppers took to social media to share long wait times, screenshots of error messages and carts that suddenly went empty amid a flurry of transaction requests — or, in some cases, apparent confirmation emails that were soon followed by notices about orders being canceled. Nintendo acknowledged the 'very high demand' in an update about those interested in purchasing the Switch 2 from its own My Nintendo Store. The company said it would be 'working diligently to fulfill orders,' but noted that delivery by June 5 was not guaranteed — urging those who want to increase their chances of getting the console at the launch date to visit a participating retailer. 'The excitement around this online preorder was incredible,' Walmart, one of the retailers also offering Switch 2 preorders, said in an emailed statement to The Associated Press. Walmart launched its early listings at 12 a.m. ET and confirmed that they 'sold out quickly due to high demand.' Customers will have another chance to buy the consoles on June 5 — when preorders are also set to be delivered by, the company added. Best Buy and Target also rolled out their preorders overnight, but soon showed listings as 'out of stock' or 'currently unavailable' early Thursday. And hours later, GameStop got in on the action — launching both in-person preorders when its stores opened and an online offering that went live at 11 a.m. ET. Still, those listings appeared to be unavailable within minutes and some customers reported confirmation delays. 'We're seeing overwhelming demand for Switch 2, which is causing some site issues,' GameStop Help wrote on X, the platform formerly known as Twitter, shortly after 11:30 a.m. ET. The company later shared that its preorders had sold out online, although it would 'continue to squash bot and duplicate orders to reopen inventory.' GameStop confirmed that its in-store preorders, however, were still available by Thursday afternoon. It wasn't immediately clear what total capacity each retailer had for Switch 2 preorders. Nintendo, GameStop, Target and Best Buy did not immediately respond to requests for further comment Thursday. The sizeable (and speedy) demand for Nintendo's Switch 2 isn't surprising. The new gaming console has been marketed as bigger and better than its predecessor of eight years past — with highly-anticipated features including an interactive chat, larger screen and new games. Still, the Switch 2's rollout arrives at an uncertain time for much of the industry due to new tariffs implemented by U.S. President Donald Trump and responding retaliation from targeted countries, notably China. Economists have warned that the steeper levies will result in higher prices on a range of consumer goods relying on a global supply chain today, including electronics. The Switch 2's baseline launch price is $449.99 — significantly higher than the original Switch's $299 price tag. While new bells and whistles may account for a sizeable portion of that hike, experts have previously noted that the new import taxes are also a contributor. And U.S. preorders for the Switch 2 were already delayed earlier this month — ahead of Trump's steepest levies, most of which have now been postponed, going into effect. Preorders were originally slated to go live on April 9, an update from Nintendo shared by GameStop notes, but were pushed back to 'assess the potential impact of tariffs and evolving market conditions.' Nintendo later confirmed that some Switch 2 accessories would see price adjustments — but maintained that its previously-announced baseline price for the console would remain the same. Super Mario creator Nintendo Co. is banking on the Switch 2 to revive demand for its gaming consoles, with its older predecessor recently losing momentum. In February, the Kyoto, Japan-based company said it expected to sell 11 million Switch consoles for its full fiscal year ending in March, lower than its initial projection of 12.5 million. Nintendo reported profit of 237 billion yen ($1.5 billion) for the first nine months of its latest fiscal year, down 42% from the same period the year prior.
