Nintendo reported a 43% decline in profit for the fiscal year ending in March as its sales slipped by 30%. While the current Switch console has seen dwindling demand, there is anticipation surrounding the upcoming Switch 2 slated for release in June. Nintendo projects selling 15 million units of the new console, aided by a robust lineup of new games. Additionally, new retail experiences, such as a store in San Francisco and a theme park in Orlando, are expected to boost sales. The company forecasts a profit rebound for the next fiscal year.
Nintendo reported a 43% decline in profit for the fiscal year through March but expects a turnaround with the Switch console upgrade releasing in June.
Despite annual sales slipping by 30%, Nintendo anticipates selling 15 million units of the upcoming Switch 2, with exciting software slated for release.
The opening of new retail experiences, including a Nintendo store in San Francisco and Super Nintendo World in Orlando, is expected to enhance sales momentum.
Nintendo is projecting a profit of 300 billion yen for the next fiscal year, reflecting an 8% improvement over the past fiscal year.
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