Nintendo's hardware sales forecast takes another hit as Switch sales fall short of projections. For the first nine months of the fiscal year, dedicated game console sales plummeted 31.7% year-over-year to 895.5 billion yen (approximately $5.7 billion), driven by decreased sales of both the Nintendo Switch console and its software. Mobile and IP-related revenue also experienced a significant decline of 33.9% year-over-year to 49.7 billion yen (approximately $320 million), primarily due to the challenging comparison with the highly successful 2023 film, The Super Mario Bros. Movie. This resulted in a 27.3% year-on-year drop in gross profit to 565.5 billion yen (approximately $3.6 billion).
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Nintendo has again lowered its financial forecast for the fiscal year ending March 2025, marking the second consecutive revision. The company anticipates even lower Nintendo Switch hardware sales, reducing its projection by 1.5 million units to 11 million, and software sales by 10 million to 150 million.
While sales declines were expected for the eight-year-old Switch, the drop is steeper than Nintendo initially projected. 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 unlikely, the Nintendo DS's 154 million sales are within reach.
Nintendo characterized Switch and software sales in the third quarter (ending December 31, 2024) as "stable considering the platform's age." Overall Switch family sales decreased by 30.6% year-on-year to 9.54 million units, while software sales fell by 24.4% to 123.98 million units. However, Nintendo highlighted strong sales of new titles including 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, outpacing sales of previous Mario Party titles on the Switch within its first 11 weeks of release (October 17, 2024).
Crucially, the number of active Switch players remains high, with 129 million annual active users in 2024, suggesting continued engagement despite the console's age.
Nintendo acknowledged the year-on-year decline in Switch unit sales but emphasized sustained consumer interest, noting that sales in some holiday weeks even surpassed those of the previous year.
AnswerSee ResultsGiven the recent financial report, investors will eagerly anticipate the launch of the Nintendo Switch 2. Nintendo confirmed upcoming releases for the original Switch, including Xenoblade Chronicles X: Definitive Edition (March 20 release) and Pokémon Legends: Z-A and Metroid Prime 4: Beyond (scheduled for 2025).
The Switch 2 was also mentioned, with Nintendo reiterating its planned 2025 release and referencing the January 16th hardware reveal video. A dedicated Switch 2 Direct is planned for April 2nd, along with hands-on events globally.
