Nintendo Co Ltd (7974) on Wednesday reported a 22.9% year-on-year decrease in Switch console sales during the April-June quarter, while citing a persistent chip shortage.
Regardless of that, the Kyoto-based gaming company stuck to a forecast to sell 21 million Switch consoles during the fiscal year through end-March 2023, as demand remains stable in all regions.
Nintendo sold 3.43 million hybrid home/portable Switch devices during the latest quarter, compared with 4.45 million units sold in the year-ago period.
Nintendo sold 23.06 million Switch devices during its last fiscal year.
Yet, the company expects a second annual drop in sales for its Switch console.
Nintendo’s software sales shrank 8.6% year-on-year to 41.4 million units and operating profit dropped 15% year-on-year to JPY 101.6 billion during the fiscal first quarter.
The Japanese company also reported a JPY 51.7 billion foreign exchange gain as a result of the weaker local currency.
“Gaming is now bigger than ever, and a certain part of users stay on, but the party is certainly now over,” Serkan Toto, founder of game industry consultancy Kantan Games, was quoted as saying by Reuters.
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