- Nintendo stock (OTC:NTDOY) rose on Thursday as the video game company finally gave its first look at its highly anticipated Switch 2 console
- Nintendo will launch the Switch 2, the successor to its highly successful Switch, later this year,but did not release pricing details for the new device, with more information to be provided April 2nd
- The company confirmed that existing Switch software will be usable on the new device, although some games may not be fully compatible.
- Nintendo stock (OTC:NTDOY) opened at US$15.50
Nintendo stock (OTC:NTDOY) rose on Thursday as the video game company finally gave its first look at its highly anticipated Switch 2 console.
Nintendo will launch the Switch 2 console, the successor to its highly successful Switch, later this year. The announcement was made before markets opened, though no word on release pricing was made for the new device. More information will be provided at a Nintendo Direct event scheduled for April 2nd.
A video was released before market open showing off the new console:
Some of the more interesting new features can be seen in the joy-cons, which are now magnetically attached to the system, rather than rails. The video also shows the controllers being used as a mouse.
The company confirmed that existing Switch software will be usable on the new device, although some games may not be fully compatible. This announcement has been eagerly awaited by both consumers and investors, as the new console appears to closely follow the successful hybrid home-portable model established by the original Switch.
The Switch has paid dividends for Nintendo, becoming its best-selling home console after the poor performance of the previous Wii U system. Now in its eighth year, Nintendo has extended the lifecycle of the Switch when many expected something new some time ago. Despite being underpowered compared to its competitors, the company rode out last year and the start of this year with hardware refreshes and games from popular franchises.
The company’s shares have been boosted in anticipation of strong consumer demand for the new device and recently hit an all-time high under growing excitement for the upcoming console. Nintendo has stated that it expects to sell 12.5 million units of the aging Switch console in the financial year ending March.
This was probably the worst-kept secret in recent memory as a series of leaks spoiled details on the Switch 2, including the name. While some were accurate (third-party accessory companies showing off mockups just last week), most were not.
The Switch enters the market better designed to compete against the more powerful Sony (NYSE:SONY) PlayStation 5 and PS5 Pro consoles, as well as the Microsoft (NDAQ:MSFT) Xbox Series X / Series S consoles, even as technology such as mobile and cloud gaming offer compelling alternatives for gamers.
With headquarters in Kyoto, Japan Nintendo Co., Ltd. is a multinational video game company that develops, publishes and releases video games and video game consoles.
Nintendo stock (OTC:NTDOY) opened more than 2 per cent higher at US$15.50 on the OTC Pink market, where it has grown 14.58 per cent since this time, last year.
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(Top image: Nintendo)