Shares of Nintendo (NTDOY) are down 6% on reports that the video game maker is delaying the launch of its new Switch 2 console.
Media reports claim that Nintendo had told game publishers that the next version of its flagship console will be delayed until early 2025.
Nintendo had initially planned to release a new version of the Switch console this autumn, in time for year-end holiday shopping.
The first-generation Switch console is now seven years old. However, Nintendo has managed to maintain momentum due to the release of last year’s highly popular “Super Mario Bros. Movie” and new games for franchises such as Zelda.
Earlier in February, Nintendo raised the forecast for its Switch console sales from 15 million units to 15.5 million units.
Prior to today (Feb. 19), Nintendo’s stock had gained 43% over the last 12 months to trade at $14.30 U.S. per share.
