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Nintendo’s Switch console sales shrink 23% YoY in fiscal first quarter

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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