Shares in Nintendo are down almost 6% at in trading on the Japanese markets after officially unveiling the details of its newest console, the $299 (£245.83) Nintendo Switch.
When the Switch was first teased back in December, Nintendo took a similar beating on the markets – analysts were concerned that the TV console that you can disconnect and use as a portable gaming device, wasn’t different from the more powerful Sony PlayStation 4 and Microsoft Xbox One consoles.
Traders are already skeptical of Nintendo: The Wii U, Nintendo’s previous console was a notorious flop, selling only 13 million units in its five-year lifespan. For comparison, the original Wii sold 101 million units in its lifetime.
And “Super Mario Run,” the debut of Nintendo’s most famous franchise on the iPhone, is a smash hit in terms of downloads, but that hasn’t translated into long-term revenue, and the stock has suffered.
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.