Investing.com– Shares of Japanese video game giant Nintendo Co Ltd ( TYO: ) fell sharply on Friday as investors appeared to be little enthused by the long-awaited unveiling of the game’s successor Switch (NYSE:) console.
Nintendo fell nearly 7% to ¥8,940.0 in Tokyo trade, compared with a 1.2% drop in . The drop was the stock’s biggest loss in three months.
Nintendo revealed the Switch 2 in a two-minute video on Thursday, but offered few details on the specs, saying more details will be revealed in April.
The video showed that the Switch 2 will have the same portable home console hybrid form factor as its predecessor, with what appeared to be a larger screen, magnetically attached controllers and slight changes to the overall design.
Nintendo has said it will reveal more about the console — likely price and game details — in April, and that the console is set for a 2025 release.
Nintendo unveiled a new version of Mario Kart during the Switch 2 launch, and also said it would be backwards compatible with the Switch.
But Thursday’s reveal held few surprises beyond what a slew of leaks and insider commentary has revealed about the console.
The Switch is one of Nintendo’s best-selling consoles, selling nearly 150 million units since its release in 2017. This is largely due to the company’s large collection of first-party games.
But slowing sales of the aging console have weighed on Nintendo’s earnings in recent quarters, and the company has also cut its annual profit and sales forecasts.
