Nintendo is forecasting a 17% drop in Switch sales for the financial year ending March 2024, marking a third straight year of decline.
The company acknowledged slowing demand for the aging console, which was first released in March 2017
- In its latest earnings results, Nintendo reported a 5.5% year-over-year decrease in revenue, which was largely attributed to a drop in sales of its flagship Switch.
- The company sold 17.97 million units in the fiscal year ended March 2023, compared to over 23 million units sold the prior year. It plans to sell 15 million units in the current year.
- One of the worst sales quarters for the Switch to date was in the last quarter, with the company selling only 3.06 million units.
- To help shore up sales, Nintendo said it plans to focus on selling second and even third consoles to households that already own a Switch.
- Despite the slowdown, the Switch claims lifetime sales of 125.62 million units, which ranks it third-best of all time.
- Reports note that the market for the console has become saturated, and customers may be looking forward to Nintendo's next-generation console, which it has yet to announce.
- On Friday, Nintendo is set to release "The Legend of Zelda: Tears of the Kingdom," one of the most anticipated games of the year.