Nintendo Co. shares fell in Tokyo on Monday after Bloomberg News reported that the company will delay its next-generation video game console until 2025.
Bloomberg reported that Nintendo 7974,
has told some of its game publishing partners that the successor to the Switch console won’t be released until March 2025, at the earliest. It was scheduled for late 2024.
The delay likely means Nintendo will also delay the launch of major new games until the release of the new console, Bloomberg reported. The Switch launched in 2017.
Nintendo did not immediately respond to a request for comment.
Nintendo shares fell about 7% in Tokyo. The stock has rallied more than 50% over the past year and hit an all-time high last week.
The video game company reported earnings earlier this month and said it now expects to sell 15.5 million Switch consoles in the year ending in March, up from a previous forecast of 15 million. However, revenue fell 6% year-over-year. Nintendo didn’t provide a timeline on the Switch’s successor in its report or earnings call, but said “It takes a lot of time and thorough planning to prepare for the new hardware.”