Nintendo Cuts 2024 Operating Profit Outlook On Weak Switch Sales

Nintendo Co. has lowered its operating profit forecast for the fiscal year ending March 2025 to 360 billion yen ($2.4 billion) from its previous projection of 400 billion yen due to weaker sales of its Switch consoles, Kyodo News reported.

Sales volume of the company's Switch console saw a 31% decline to 4.72 million units in the first half ending September.

The company now forecasts sales at 1.28 trillion yen, down from the previous estimate of 1.35 trillion yen.

However, Nintendo maintained its full-year net profit forecast at 300 billion yen. It also revised its Switch sales outlook for the fiscal year to 12.50 million units from 13.50 million. Sales volume for the console, which was launched in 2017, saw a 31% decline to 4.72 million units in the first half ending September.

Software sales dropped 27.6% to 70.28 million copies. Nintendo has indicated it will announce the successor to the Switch by the end of March, according to a report by Mainichi Japan.