Nintendo's Financial Briefing confirms E3 video presentation and more

Nintendo's Financial Briefing confirms E3 video presentation and more

Lindsey Duncan
April 27, 2019

On the hardware front, annual Switch sales totaled 16.95 million units.

Multiple rumors have appeared over the past few months that Nintendo is preparing to launch a new version of its Switch hybrid console.

In just two years, the Switch has outsold legacy systems like Nintendo 64 and Nintendo GameCube systems-both of which accrued their sales in a six-year lifespan.

Nintendo eventually hopes the Switch sells more than 100 million units and is set up to outlast previous systems with its dual handheld-and-console form factor. Nintendo's overall operating profit for the year was $2.2B, up from 1.6B last year.

Nintendo hasn't released its official numbers for the 2018 fiscal year, but analysts estimate that Nintendo shipped 17.5 million Switch units through March 2018.

The Nintendo Switch is no different.

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Digital software sales on Switch brought in ¥118.8 billion ($1.06 billion), an 95.4% increase year-over-year (yoy).

We also get the outlook for the current fiscal year, which goes all the way to March 31, 2019. "As a general rule, we're always working on new hardware and we will announce it when we are able to sell it", Nintendo CEO Shuntaro Furukawa told reporters in Osaka.

A new, cheaper version of the Switch will be released by the end of June, according to one "person familiar with the matter" cited in a recent Bloomberg report. To be clear, any new Switch model would be separate from the existing Switch.

"We plan to implement in-game events to encourage consumers to keep enjoying the game", Furukawa said during the financial briefing.

One possibility is that Nintendo might be timing its own performance improvement announcements against the unveiling of new consoles from Sony and Microsoft.