Arizona Tribune - Nintendo shares tumble as Switch 2 preview disappoints

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Nintendo shares tumble as Switch 2 preview disappoints
Nintendo shares tumble as Switch 2 preview disappoints / Photo: Philip FONG - AFP

Nintendo shares tumble as Switch 2 preview disappoints

Nintendo shares tumbled more than six percent Friday after the Japanese games giant failed to impress with a brief video preview of its new Switch 2 console.

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In morning trade in Tokyo, Nintendo shares were down 5.67 percent at 9,046.00 yen ($58.28), having earlier fallen more than six percent.

The previous Switch is the third-best-selling console ever after Sony's PlayStation 2 and Nintendo's DS, selling more than 146 million units since its launch in 2017.

Announcing Thursday that Switch 2 would come this year, Nintendo stopped short of giving much detail on the new gadget, including pricing, saying more would be revealed at an April 2 livestreamed event.

In a slick two-minute video, the new console looks bigger but is broadly similar in design to the original hybrid Switch, which can be handheld or connected to a TV screen.

The screen is larger as are the overhauled "joy-con" controllers that snap into place with magnets rather than sliding into place as on the old device.

The video also showed off a new version of the long-running Mario Kart series both on the new console's built-in screen and on a TV. The latest instalment of the game, "Mario Kart 8", sold more than 64 million copies.

The company said in a statement Thursday that the new machine "plays Nintendo Switch 2 exclusive games, as well as both physical and digital Nintendo Switch games" -- which would fulfil a November promise on backwards compatibility with the old console.

But it added that "certain Nintendo Switch games may not be supported on or fully compatible with Nintendo Switch 2" -- adding that further details would come "at a later date".

Nintendo also said several "Nintendo Switch 2 Experience" events would be held around the world starting April 4 to give gamers an opportunity to test the new console.

With sales of the original Switch falling, Nintendo had promised to unveil the new console by the end of March this year.

At the same time, the Kyoto-based company has been diversifying into theme parks around the world and funding films based on its games and characters, like 2023's global second-place box office performer "The Super Mario Bros. Movie".

"However, Nintendo still generates approximately 91 percent of its revenue from its Nintendo Switch business, which shows the importance of the Switch 2," said Darang Candra, an analyst with games market research firm Niko Partners.

H.Gonzales--AT