Nintendo recorded its best quarter yet, thanks to Super Mario Bros. Movie which grossed over $1 billion at the box office. Also Legend of Zelda: Tears of the Kingdom has sold over 18.51 million units since its release on 12 May 2023.
In the earnings call released on 3 August 2023, the company recorded ¥461.3 billion (approx. $3.2 billion) in net sales, a 50% rise compared to the same time last year. Also, the company’s operating profit rose by 82.4% compared to Q1 2023 to hit ¥185.4 billion yen (approx. $1.3 billion).
According to Bloomberg, the figures are Nintendo’s highest Q1 records, trumping the record the company set in 2020. The company’s digital sales in Q1 rose by 35.9% year-on-year to ¥119.6 billion (approx. $837.5 million).
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“Several factors contributed to the increase in digital sales,” said the company in the earnings call. “The depreciation of the yen in foreign exchange markets increased the sales amount when converted to yen. Also, the downloadable versions of packaged software for Nintendo Switch like The Legend of Zelda: Tears of the Kingdom sold well, and sales related to Nintendo Switch Online increased.”
Although Nintendo Switch recorded positive sales numbers compared to the same period the previous year (3.91 million units compared to 3.43 million units), the general belief is that the console is close to the end of its life. Below is a rundown of the total sales of the different Switch consoles in Q1 2024.
- Switch Lite – 0.43 million units sold
- Switch OLED – 2.83 million sold
- Standard Switch – 0.64 million sold
Nevertheless, Nintendo still has a long list of titles planned for Switch through the rest of the year. The list was revealed during Nintendo Direct June 2023 reveal. Some of the big-name titles that will be coming to Switch later this year include Super Mario Bros. Wonder and Detective Pikachu Returns.
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Since the Switch was launched across major markets around the globe in March 2017, Nintendo’s shares have delivered over 300% ROI for investors, including dividends. It has outperformed the 91% return benchmark set by Nikkei.
Reports claim third-party devs are already in the custody of the Nintendo Switch successor
Video Games Chronicles (VGC) claims they spoke with credible sources that confirmed Nintendo Switch’s successor is already in third-party developers’ hands. Eurogamer also corroborated the news, further highlighting a release window in late 2024.
Feeling confident about their source, VGC gave further insights about the upcoming Nintendo Switch successor. They claimed that fans can use it in portable mode like the Switch. Also, they claimed Nintendo will use LCD screens instead of OLED to cut down costs.
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According to the report, the Nintendo Switch successor will come with additional storage as well as upgraded GPU and CPU—which is likely to push the price up. Therefore, by using LCD, Nintendo will try to keep the price of the Switch successor from blowing over the roof.
Those familiar with screen technology said that lowering the graphic specs will help Nintendo to cut down on costs as well as development manpower. Overall, this should help to increase Nintendo’s first-party software margins.
The reporters also claimed the Nintendo Switch successor will come with a cartridge slot that will accommodate physical copies of game releases. This is a weird move, at a time when developers and consoles are promoting digital purchases to cut logistics costs.
Although the reporters felt sure about a Switch successor, there is no mention of the processing power of the upcoming console—neither has there been a leaked photograph.
Do you think a Nintendo Switch successor will come in late 2024 or do you think this is just another rumor to drive traffic? Share your thoughts in the comment box below.
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