Nintendo Switch sales decline: Profit plunges 55% as console demand falters!

• Nintendo Switch sales decline significantly, leading to a 55% drop in profit and a 10% decrease in shares after disappointing earnings.
• The company reported a revenue of 246.6 billion yen ($1.68 billion), falling short of the expected $1.97 billion.
• Nintendo sold 2.1 million Switch units, a 46% decrease compared to the previous year, raising investor concerns about the need for a new device.
• Analysts suggest that poor earnings increase pressure on Nintendo to reveal a potential “Switch 2,” with expectations for a new device announcement by March 2025.
• Software sales also fell by 41% to 30.64 million units, compounded by a lack of major game releases during the first quarter.

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https://nypost.com/2024/08/02/business/nintendo-profit-plunge-55-as-sales-of-switch-console-slump/

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