Japan’s Nintendo cut its full-year Switch sales forecast by 12% to 11 million units as the aging console loses momentum ahead of a follow-up device this year.
Although Nintendo has opened stores and its roster of characters appear in theme parks and movies, it remains dependent on its console business.
“While we believed that sales of hardware and software would remain stable for the eighth consecutive year, we did not achieve our plans,” Nintendo President Shuntaro Furukawa said during the earnings release.
Nintendo sold 9.54 million Switch units between April and December, bringing total sales to 15,086 units.
Last month, Nintendo said it would release a successor to its popular home portable Switch console this year and hold a Nintendo Direct event on April 2.
The Switch 2 seems closely tied to the design of its predecessor, which changed Nintendo’s fortunes after the Wii U’s underperformance.
The company lowered its operating profit forecast for the fiscal year ending in March by 22.2% to 280 billion yen ($1.8 billion, approximately Rs. 15,678 crore).
Between April and December, profits fell 46.7% to 247.6 billion yen (approximately Rs. 13,882 crore).
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