Nintendo's hardware sales forecast takes another hit, with Switch sales falling "below expectations." The company's dedicated video game console business saw a 31.7% year-on-year revenue drop to 895.5 billion yen (approximately $5.7 billion) during the first nine months of the fiscal year. This decline stems from lower sales of both the Nintendo Switch console and its software. Mobile and IP-related income also suffered, decreasing by 33.9% year-on-year to 49.7 billion yen (approximately $320 million), primarily due to the tough comparison with the highly successful 2023 film, The Super Mario Bros. Movie. Consequently, gross profit fell by 27.3% year-on-year to 565.5 billion yen (approximately $3.6 billion).
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For the fiscal year ending March 2025, Nintendo has again lowered its financial forecast, marking the second consecutive revision. The company anticipates even fewer Switch hardware sales than previously projected, reducing its forecast by 1.5 million units to 11 million, and software sales by 10 million units to 150 million. While sales declines are expected for an eight-year-old console, the drop is steeper than Nintendo initially predicted. 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 challenging, the Nintendo DS's 154 million sales record is within reach.
Nintendo characterized Switch and software sales in the third quarter (ending December 31, 2024) as "stable, considering the platform's eighth year." Overall Switch family sales decreased by 30.6% year-on-year to 9.54 million units, and software sales fell by 24.4% year-on-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. Within its first 11 weeks (following its October 17, 2024 release), it outpaced sales of previous Mario Party titles on the Switch.
Crucially, for Nintendo's upcoming Switch 2 launch, the number of active Switch players remains high, with 129 million annual playing users in 2024. This indicates continued engagement despite the console's age. Nintendo noted that while Switch unit sales declined year-on-year, sales during some holiday weeks even exceeded those of the previous year.
AnswerSee ResultsIn light of the financial report, investors eagerly await the Switch 2's release. Nintendo announced upcoming Switch titles: Xenoblade Chronicles X: Definitive Edition (March 20 release), and Pokémon Legends: Z-A and Metroid Prime 4: Beyond (scheduled for 2025). The company confirmed the Switch 2's 2025 release and plans a dedicated Switch 2 Direct on April 2nd, along with hands-on events globally.
