Nintendo Co. Shares Slump Amid Delay Reports

Shares of Nintendo Co. took a hit in Tokyo trading on Monday following reports from Bloomberg News indicating that the company will be pushing back the release of its highly anticipated next-generation video game console to 2025.

Delay Confirmed by Insider Sources

According to Bloomberg, insider sources revealed that Nintendo informed some of its game-publishing partners that the successor to the popular Switch console will not hit the shelves until at least March 2025, contrary to initial expectations of a late 2024 release.

Impact on Game Launches

The reported delay suggests that Nintendo will also postpone the launch of major new games until the debut of the new console. The Switch, which first debuted in 2017, has been a staple in the gaming community for years.

Market Reaction

Following the news, Nintendo shares dipped approximately 7% in Tokyo, despite having experienced a more than 50% surge over the past year with a recent all-time high.

Earnings and Forecast

This development comes in the wake of Nintendo reporting its earnings earlier this month, revising its sales forecast for Switch consoles to 15.5 million units by March, up from the initial projection of 15 million. However, revenue saw a 6% decline year-over-year.

Company Response

As of now, Nintendo has not officially commented on the delay reports, stating only that "It takes a long time and thorough planning to get ready for new hardware" during its recent earnings call.