Nintendo's hardware sales forecast has been revised downward again, with Switch console and game sales falling "below expectations." For the first nine months of the fiscal year, dedicated game console sales dropped 31.7% year-over-year to ¥895.5 billion (approximately $5.7 billion) due to decreased Switch and software sales. Mobile and IP-related income also declined by 33.9% year-over-year to ¥49.7 billion (approximately $320 million), largely attributed to the challenging comparison with 2023's highly successful The Super Mario Bros. Movie. This resulted in a 27.3% year-over-year decrease in gross profit to ¥565.5 billion (approximately $3.6 billion).
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Nintendo has again lowered its financial forecast for the fiscal year ending March 2025, the second consecutive revision. The projected Switch hardware sales have been reduced by 1.5 million units to 11 million, and software sales by 10 million to 150 million. While sales declines were anticipated for the eight-year-old Switch, the drop is steeper than Nintendo initially predicted. Nevertheless, the Switch has surpassed 150 million units sold, a remarkable achievement. While surpassing the PlayStation 2's 160 million sales may be unlikely, the Nintendo DS's 154 million sales are within reach.
Nintendo characterized Switch and software sales in Q3 2024 (ending December 31, 2024) as "stable considering the platform's age." Overall Switch family sales were down 30.6% year-over-year at 9.54 million units, with software sales declining 24.4% to 123.98 million units. However, Nintendo highlighted strong sales of new titles: 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 reached 1.4 million sales.
Super Mario Party Jamboree stands out as a significant success. Within its first 11 weeks (following its October 17, 2024 release), it outpaced sales of previous Mario Party Switch titles.
Crucially, active Switch users reached a record high of 129 million "annual playing users" in 2024, indicating continued engagement despite the console's age. Nintendo noted that Switch unit sales decreased year-over-year, but holiday season sales in some weeks even exceeded those of the previous year.
AnswerSee ResultsGiven the financial report, investors anticipate the Switch 2's release. Nintendo mentioned upcoming Switch titles: Xenoblade Chronicles X: Definitive Edition (March 20 release), and Pokémon Legends: Z-A and Metroid Prime 4: Beyond (scheduled for 2025). The company reaffirmed the Switch 2's 2025 release, previously announced on January 16th, and previewed the hardware. A Switch 2 Direct is planned for April 2nd, with hands-on events to follow.
