Kyoto-based gaming company, Nintendo Co Ltd, announced on Tuesday that it anticipates selling 15 million Switch consoles in the financial year ending March 2024. This projection is a decrease from the 17.97 million units sold in the previous year.
Despite facing a decline in demand for its aging Switch console in its seventh year on the market, Nintendo posted an operating profit of 504.38 billion yen ($3.73 billion) in the year ended March 31, exceeding expectations. This is in comparison to a profit of 592.76 billion yen in the previous year.
Nintendo has been working to expand its games lineup while managing the supply chain snarls that have caused delays in production. On Friday, the company is set to launch “The Legend of Zelda: Tears of the Kingdom”, one of the most highly anticipated games of the year.
The company’s roster of characters has continued to draw a loyal following, as seen in the recent box office success of “The Super Mario Bros. Movie“. The film, based on the popular video game franchise, has grossed over $147 million worldwide since its release in December 2021.
Nintendo’s latest sales projection for the Switch console reflects the challenges of maintaining momentum for a product that has been on the market for several years. However, with a strong lineup of games and a dedicated fanbase, the company remains confident in its ability to continue delivering profits in the coming years.
Despite the challenges, Nintendo remains one of the leading players in the video game industry, with a history of producing popular and innovative consoles and games. The company’s strong financial performance in the past year and its continued investment in new titles and technology demonstrate its commitment to remaining a major player in the gaming world.
“The Legend of Zelda: Tears of the Kingdom” is one of several high-profile releases coming from Nintendo in the coming months. The company is also expected to launch a new, updated version of its Switch console later this year, which could help boost sales.
As the video game industry continues to grow and evolve, Nintendo faces competition from major players like Sony and Microsoft, as well as from up-and-coming companies like Google and Amazon. However, the company’s loyal fanbase and iconic characters, such as Mario and Zelda, give it a unique advantage in the market.
With its latest sales projection, Nintendo is acknowledging the challenges it faces in the coming year, but also expressing confidence in its ability to navigate them successfully. As the company continues to innovate and produce new games and consoles, it remains a key player in the video game industry, with a strong brand and a dedicated following.