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Investors in Nintendo (OTCPK:NTDOY) were in for a bumpy ride on Monday as share prices took a nosedive, dropping by as much as 8.5% in Japan. The cause? Reports have surfaced indicating that the gaming giant is pushing back the release of its eagerly anticipated Switch successor until after the holiday season.
The rumor mill churned out news that Nintendo informed its game publishing partners of a setback in the launch of the next-generation console. Speculation suggests that the release, initially pegged for Q4 of this year, will now be postponed to the early months of next year. Bloomberg revealed this development late last Friday, citing sources familiar with the matter.
Further fueling the fire, Nintendo (OTCPK:NTDOY) allegedly instructed some publishers to brace themselves for a prolonged waiting game, hinting that the next-gen console may not see the light of day until at least March 2025, according to the report.
Unsurprisingly, Nintendo has remained tight-lipped about the delay. When probed by Bloomberg, a company spokesperson declined to provide any insights. However, the news of the postponement had already made rounds earlier through the Video Games Chronicle.
In a separate development last month, a Bernstein analyst turned the spotlight on Nintendo (OTCPK:NTDOY) by upgrading the stock to outperform from market perform. The move was prompted by burgeoning excitement surrounding the next-gen console and better-than-expected software sales.
