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Nintendo (OTCPK:NTDOY) shares fell as much as 8.5% in Japan on Monday amid reports that it’s delaying the release of its Switch successor until after the holiday season.
The Japanese videogame console maker told its game publishing partners that the release of the next-generation videogame console will be delayed to the early months of next year from Q4 of this year, according to a Bloomberg report on late Friday, which cited people familiar with the matter.
Nintendo (OTCPK:NTDOY) has told some publishers not to expect the next generation console until March 2025 at the earliest, according to the report.
A Nintendo spokesperson told Bloomberg the company has nothing to comment on. News of the delay was reported earlier by the Video Games Chronicle.
Last month a Bernstein analyst upgraded Nintendo (OTCPK:NTDOY) to outperform from market perform, citing excitement surrounding the next-gen console and better-than-expected software sales.