Investing.com — Nintendo, the Japanese video game company, has announced plans to launch a game Switch (NYSE:) 2 console, the successor to its popular Switch device, later this year. The Kyoto-based company did not reveal pricing details for the new console, but promised to provide more information at the Nintendo Direct event on April 2.
The company will unveil the next-generation Switch 2 on April 2, beginning the phase-out of the nearly eight-year-old flagship model. The new model resembles the current Switch in concept and design, as revealed in a two-minute teaser video posted on Nintendo’s website on Thursday. The video didn’t reveal many details, but it did show off a new version of Mario Kart and confirmed the device’s backwards compatibility with original Switch games. The company promised to reveal more details in April.
Game developers are hoping that Nintendo’s new platform will revive the momentum of the industry, which is currently competing with a wide range of entertainment options for users’ time. Consoles are increasingly competing with popular PC games, leading to project cuts and layoffs across the industry. Many game publishers are preparing their best franchises for the new Switch in hopes of attracting gamers.
The new console will also support Nintendo’s online gaming services, a feature the company confirmed in November. The original Switch console has sold over 146 million units to date. However, faltering momentum for the console, which launched in 2017, prompted Nintendo to cut its annual profit and sales forecasts and report a fifth consecutive quarter of declining profits.
Consumers have been eagerly awaiting the announcement of the successor to the Switch. The Switch faces competition from more powerful and stylish upgrades from rivals such as Sony (NYSE:) Group Corp. and Microsoft Corp (NASDAQ:). Along with the new hardware features, the focus is on Nintendo’s ability to meet demand at the console’s launch.
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