Nintendo’s stock experienced a sharp decline of 6 per cent on Monday in response to reports from gaming media outlets and Bloomberg suggesting a potential delay in the release of its next-generation console.
As per these reports, Nintendo, headquartered in Kyoto, communicated to its game publishing partners about the likelihood of postponing the launch of the next-generation video game console from the final quarter of this year to the early months of 2025.
Nintendo’s partners were reportedly advised not to expect the introduction of the yet-to-be-announced console until March 2025 at the earliest. This news might prompt investors to further sell off Nintendo shares, particularly considering the recent surge in stock value, which reached an all-time high last week.
The surge in stock value was driven by widespread expectations that Nintendo would unveil a new gaming device in 2024 to succeed the seven-year-old Switch console.
While Nintendo has not officially confirmed any plans regarding the successor to the Switch console, speculations continue to circulate regarding the company’s intentions to introduce a new gaming device.
Market analysts anticipate that Nintendo is gearing up to launch an updated console to replace the aging Switch, which has maintained significant popularity among consumers over the years.
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