Nintendo’s sales were down by 34% in its fiscal first half

The iconic gameco sustained double-digit drops in both hardware and software sales as consumers wait for Nintendo Switch's successor to be released next year.
November 5, 2024

As the eight-year-old Switch console nears the end of its shelf life, Nintendo has lowered its full-year forecast following the release of a gloomy financial report for the first half of its fiscal 2024 today. 

The Japanese gaming giant generated a total of US$3.4 billion in global net sales between April and September, which is down an unexpected 34% compared to the same period last year. Hardware unit sales dropped 31%, and software didn’t fare much better, taking a 27.6% hit. 

The company’s leadership team attributes this shortfall to the aging Nintendo Switch, which has sold more than 143.4 million units worldwide since launching in 2017. Hardware sales have been softening for the past 12 months as consumers gear up for the announcement of the Switch’s successor, which Nintendo plans to unveil before the end of April next year. 

Due to lower demand, Nintendo now expects that it will generate a total of US$8.4 billion in global net sales this fiscal year (ending on March 31, 2025), which is down 5% (US$500 million) from its initial forecast, and 23% below fiscal 2023’s total (US$10.52 billion). 

 

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