Latest news with #electronicsRetailer
CTV News
2 days ago
- Business
- CTV News
Nintendo Switch 2 launch draws eager fans
Customers lin up to purchase Nintendo Switch 2 at an electronics retailer in Tokyo, Thursday, June 5, 2025. (AP Photo/Louise Delmotte) TOKYO — Eager customers lined up outside electronics stores in Tokyo hours in advance to collect their pre-ordered Nintendo Switch 2 video game consoles. The much anticipated Switch 2, being released around the world Thursday, is an upgrade to its eight-year-old predecessor with new social features meant to draw players into online gaming. Nintendo is counting on the Switch 2 to boost sagging sales. In the U.S., a chaotic pre-order process in April left some fans frustrated after the consoles quickly sold out. In Japan, the new consoles were sold through a competitive lottery system that Nintendo said got about 2.2 million applications. Outside the official draw, some retailers offered their own lotteries to pre-order the devices. Koji Takahashi was among those who missed out on the official draw but he was selected in the second round of a lottery held by a major electronics retailer in Japan. He was first in line waiting outside the store, arriving four hours ahead of its opening. He hoped to secure a limited supply of Nintendo accessories to buy along with his pre-ordered Switch 2. 'I feel very sorry for those who weren't successful in the lottery. But I also had tough time getting this far, so I hope they forgive me!' Takahashi said. The new console comes with a larger and higher resolution screen than its predecessor, with improved processing power, offering smoother and more vivid graphics. Nintendo has said it expects to sell 15 million Switch 2 consoles for the fiscal year through March 2026. The company has promised to roll out attractive software for the Switch 2 later this year, including 'The Legend of Zelda' games, a Pokemon title and a Kirby game, as well as offerings from outside software companies. Nintendo is capitalizing on the launch with the opening of a store in San Francisco and the Super Nintendo World amusement facility in Orlando, Florida, both set for this month. The Switch 2's rollout arrives at an uncertain time for much of the gaming industry due to new tariffs implemented by U.S. President Donald Trump. In the U.S., the Switch 2's baseline launch price is $449.99 — significantly higher than the original Switch's $299 price tag. U.S. preorders for the Switch 2 were delayed for several weeks so the company could assess the potential impact of tariffs. Ayaka Mcgill, The Associated Press
Yahoo
29-05-2025
- Business
- Yahoo
Electronics retailer Best Buy cuts annual sales forecast on tariff pain
(Reuters) -Best Buy slashed its annual comparable sales forecast on Thursday, on signs that consumer demand for big-ticket items such as appliances, home theater and gaming consoles will be pressured by U.S. tariffs. Shares of the company were down 3% in premarket trading as it also posted a bigger drop in first-quarter sales than analysts expected. American households are in a limbo as they battle higher borrowing costs, with tariffs now fueling concerns of price surges on everything from toys to groceries and sneakers. Best Buy is heavily reliant on imports from China, its biggest manufacturing hub, for products such as gaming consoles, audio equipment, cameras and drones, according to Telsey Advisory Group analyst Joe Feldman. The top U.S. electronics retailer expects fiscal 2026 comparable sales in the range of down 1%-to-up 1%, compared to its prior expectation of flat-to-up 2%. It logged same-store declines of 0.7% for the quarter ended May 3, compared to analysts' average expectation of a 0.6% drop, according to data compiled by LSEG. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
