Nintendo's hardware sales forecast takes another hit as Switch sales fall short of projections. For the first nine months of the fiscal year, dedicated game console sales plummeted 31.7% year-over-year to 895.5 billion yen (approximately $5.7 billion), reflecting decreased sales of both the Nintendo Switch console and its software. Mobile and IP-related revenue also suffered, declining 33.9% year-over-year to 49.7 billion yen (approximately $320 million), largely due to unfavorable comparisons with the highly successful 2023 release of The Super Mario Bros. Movie. This resulted in a 27.3% year-over-year drop in gross profit to 565.5 billion yen (approximately $3.6 billion).
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Nintendo has again lowered its financial forecast for the fiscal year ending March 2025, marking the second consecutive downward revision. The company anticipates even lower Nintendo Switch hardware sales, reducing its projection by 1.5 million units to 11 million, and software sales by 10 million units to 150 million.
While sales declines are expected for the eight-year-old Switch, the drop is steeper than Nintendo initially projected. Nevertheless, the Switch has achieved remarkable success, surpassing 150 million units sold. While overtaking the PlayStation 2's 160 million sales to become the best-selling console of all time may be unlikely, the Nintendo DS's 154 million sales record is within reach.
Nintendo characterized Switch and software sales in its third quarter (ending December 31, 2024) as "stable considering the platform's age." Overall Switch family sales were down 30.6% year-over-year at 9.54 million units, with software sales declining 24.4% year-over-year to 123.98 million units. However, Nintendo highlighted strong sales of new titles: The Legend of Zelda: Echoes of Wisdom (3.91 million), Super Mario Party Jamboree (6.17 million), Mario Kart 8 Deluxe (5.38 million), and Nintendo Switch Sports (2.63 million) during the quarter. Mario & Luigi: Brothership also sold 1.4 million units.
Super Mario Party Jamboree stands out as a significant success. Nintendo reported that within its first 11 weeks (following its October 17, 2024 release), it outperformed previous Mario Party titles on the Switch.
Crucially, for Nintendo's upcoming Switch 2 launch, active users are at an all-time high, with 129 million annual playing users in 2024. This demonstrates continued engagement despite the console's age.
Nintendo acknowledged the year-over-year decline in Switch unit sales but emphasized sustained consumer interest, noting that holiday sales in some weeks even exceeded those of the previous year.
AnswerSee ResultsGiven the latest financial report, investors eagerly anticipate the Switch 2's release. Nintendo confirmed upcoming releases for the original Switch: Xenoblade Chronicles X: Definitive Edition (March 20 release) and Pokémon Legends: Z-A and Metroid Prime 4: Beyond (scheduled for 2025).
The Switch 2 was also mentioned, with Nintendo reiterating its planned 2025 release and referencing the January 16th hardware reveal video. A Switch 2 Direct is planned for April 2nd, along with global hands-on events.
