Nintendo Downgrades Sales and Operating Profit Forecast for Switch

Foreks - Nintendo has lowered its Switch sales forecast for the fiscal year ending March 2025 due to decreased demand. The Japanese gaming giant stated it expects to sell 12.5 million Switch units during the period. Nintendo has also reduced its annual operating profit estimate by 10%, now projecting it to be 360 billion yen. The company is facing declining demand for its flagship Switch console, which is over seven years old. Investors are waiting for news about the successor to the Switch, hoping that Nintendo will reinvigorate its gaming business. The company has previously indicated that it would announce the successor within the current fiscal year ending in March 2025.