Nintendo Switch Sales Dip as Successor Nears

Nintendo has once again lowered its hardware sales projections as Switch console and game sales fell short of expectations.

During the first three quarters of this fiscal year, Nintendo's gaming console revenue dropped 31.7% year-over-year to ¥895.5 billion ($5.7 billion), driven by declining Switch hardware and software sales.

Mobile and IP-related income also saw a 33.9% decrease to ¥49.7 billion ($320 million), primarily due to challenging comparisons with 2023's massive success, The Super Mario Bros. Movie.

Consequently, overall gross profit declined 27.3% year-over-year to ¥565.5 billion ($3.6 billion).

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For the second consecutive time, Nintendo has downgraded its financial outlook through March 2025. The company now anticipates selling 1.5 million fewer Switch consoles (revised to 11 million) and 10 million fewer software units (adjusted to 150 million) than previously projected.

While declining sales are expected for the eight-year-old Switch platform, the drop has been sharper than Nintendo anticipated. Nonetheless, surpassing 150 million units sold marks extraordinary success. Though catching PlayStation 2's 160 million record seems unlikely, overtaking Nintendo DS's 154 million remains achievable.

Nintendo characterized Switch sales during Q3 ending December 31, 2024 as "remarkably stable for an eight-year-old platform."

Complete Switch family hardware sales fell 30.6% year-over-year to 9.54 million units, while software sales declined 24.4% to 123.98 million. Nintendo highlighted strong performances from new releases like 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), with Mario & Luigi: Brothership reaching 1.4 million.

Super Mario Party Jamboree emerged as a standout success, outpacing sales of previous Switch Mario Party titles (Super Mario Party and Mario Party Superstars) during its first 11 weeks after October 17, 2024 launch.

Significantly, as Nintendo prepares for Switch 2's upcoming launch, the platform reached a record 129 million annual active users in 2024 - demonstrating sustained engagement nearly eight years post-release.

"Switch hardware sales declined year-over-year, yet consumer interest persists," Nintendo stated. "During key holiday periods, weekly sales occasionally surpassed previous year figures."

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Given Nintendo's financial performance, investors eagerly await Switch 2's launch. However, Nintendo revealed several upcoming OG Switch titles including Xenoblade Chronicles X: Definitive Edition (March 20), plus Pokémon Legends: Z-A and Metroid Prime 4: Beyond arriving in 2025.

The company briefly addressed Switch 2 without new information: "On January 16, we confirmed Switch 2's 2025 release and debuted preliminary hardware footage."

Nintendo announced a Switch 2 Direct presentation scheduled for April 2, promising additional details, along with global hands-on demo events.