By Kosaku Narioka
Nintendo shares fell sharply after it said the much anticipated successor to its Switch console would go on sale later this year, disappointing investors with a lack of specifics and a design that feels more like an update than a reinvention.
Shares had closed at a new record on Thursday ahead of the Switch 2 announcement, building on the 26% gain last year amid growing expectations for the new hardware. On Friday, the stock fell as much as 7.2% before paring losses to trade 6.8% lower at 8,938 yen, equivalent to $57.58.
The Japanese videogame maker said late Thursday that it will start selling the successor to its eight-year-old Switch console later in 2025. Nintendo didn't reveal the price, the launch date nor specifications but said it plans to share further details in April. It also said the new Switch will come with exclusive games.
The first Switch launched in 2017 and has sold 146 million units as of September.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
January 16, 2025 21:56 ET (02:56 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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