Nintendo profits fall 55 percent as people save their cash for the Switch 2

Nintendo's profits drop 55% as consumers await the Switch 2, with only 2.1 million units sold last quarter.

: Nintendo's profits fell 55% year-on-year due to anticipation for the Switch 2. The company sold 2.1 million Switch units last quarter, a 46.3% decline. Software sales also dropped 41.3% to 30.64 million units. The release of the Switch 2 is now expected in early 2025.

Nintendo reported a 55% drop in profits for the quarter ending June 30, with a net profit of 80.9 billion Japanese Yen. This decline is attributed to consumer anticipation for the upcoming Switch 2, leading to lower current console and game purchases.

The company noted only 2.1 million Switch units sold in the last quarter, representing a 46.3% year-on-year decline. Additionally, software sales decreased by 41.3% compared to last fiscal year, totaling 30.64 million units sold.

Big releases like 'The Legend of Zelda: Tears of the Kingdom' and 'The Super Mario Bros. Movie' had previously boosted sales. Despite the current downturn, Nintendo considers its Switch sales stable and expects the Switch 2 to release in early 2025.

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