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Nintendo (OTCPK:NTDOY) experienced a substantial dip in share value, plummeting by as much as 8.5% in Japan on Monday. This decline was prompted by unsettling reports suggesting a delay in the release of its anticipated Switch successor until after the holiday season.
The beleaguered Japanese videogame console manufacturer relayed this disheartening news to its game publishing partners. As per the reports, the release of the next-generation videogame console has been postponed to the early months of next year from its previously anticipated reveal in Q4 of this year. A Bloomberg report on late Friday, citing sources familiar with the matter, disclosed this unwelcome development.
Nintendo (OTCPK:NTDOY) delivered the disheartening news that some publishers should not expect the next-generation console until at least March 2025, as outlined in the report.
This detrimental turn of events was confirmed earlier by the Video Games Chronicle. Notably, just the previous month, a Bernstein analyst elevated Nintendo (OTCPK:NTDOY) to outperform from market perform, citing the fervor surrounding the next-gen console and an upturn in software sales beyond expectations.
