The Nintendo Switch has notably made a mark in the handheld console market, but as years go by, people start moving on to the next advancement. The console is at a slow decline when it comes to sales, expecting it to continue through the 2024 fiscal year.
Nintendo Switch Sales are Down
Nintendo expects to only sell around 15 million units through the fiscal year 2024, and even that number is perceived as a stretch by the company. In the last fiscal year, the company saw a 5.5% year-on-year, resulting in a revenue of 1.6 trillion yen.
Its net profit was reported to be 432.7 billion for the 2023 fiscal year, which is a 9.9% decline on a year-on-year basis. Despite that, it still surpassed the net profit amount that Nintendo was expecting, which was 370 billion yen, as mentioned in CNBC.
The video game company was among those who were affected by the shortage of semiconductors and other components, which in turn contributed to the slow production around the summer. It also did not get the increase in sales during the holidays that it's hoped for.
Nintendo sold almost 18 million units of Switch consoles, which matched its expected sales for the fiscal year. However, even if the number of sales is impressive, it's still a decline from its previous fiscal year, which saw 23 million units of Nintendo Switch sold.
There is a 22% decline between the fiscal years 2022 through 2023, and the video game giants expect it to decline further. It's not exactly a surprise given that the console was released six years ago, and it may have already reached its peak.
Even the CEO of games consultancy company Kantan Games, Srkan Toto, believes that the Nintendo Switch has had a successful run, but has already passed its peak. He added that every console cycle ends and Nintendo needs new hardware to "revitalize" its sales.
One thing that may encourage an increase in sales would be the release of a game from one of its most famous franchises, the Legend of Zelda: Tears of the Kingdom, although it is likely not enough to match the sales from the previous fiscal year.
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Release of The Legend of Zelda: Tears of the Kingdom
The newest video game in the Legend of Zelda franchise is set to be released on May 12th, 2023, which is this Friday. It is the sequel to The Legend of Zelda: Breath of the Wild, and players will explore the lands of Hyrule as they control the main character, Link.
Players can pre-order the game in the Nintendo Store. There are three products to choose from which are the digital version and the physical version, which both cost $69.99. The Collectors Edition of the physical version costs $130.
The Legend of Zelda: Tears of the Kingdom Collector's Edition includes several additional items. Aside from the physical game for Nintendo Switch, it also includes a pin set, a steel book, an art book, and an Iconart poster.
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