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Nintendo Slips 6%+ Amid Reports of 1/3 Cut in Switch 2 Output This Qtr
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Nintendo's (7974.JP) Switch 2 sales during the holiday season at the end of last year trailed behind expectations, Bloomberg reported, quoting people familiar with the matter. As a result, production for this quarter was only 4 million units, a one-third reduction from the originally planned 6 million units. The production cut was expected to persist till April. Nintendo's stock price, under pressure, shed over 6% to JPY8,853. After setting a sales record in June last year, Switch 2 sales have not met the expectations of Nintendo's management, particularly disappointing in the US market. Although the recent Switch 2 game "Pokemon Pokopia" sold like hot cakes, Nintendo has not expedited the production of Switch 2 again. However, this production cut was not expected to affect the analysts' target of approximately 20 million units sold for the fiscal year ending March 31. AASTOCKS Financial News Website: www.aastocks.com |
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