As the old platform loses traction before the release of a successor device this year, Nintendo of Japan lowered its full-year sales target for the Switch by 12 percent to 11 million units.

Despite opening storefronts and having its cast of characters appear in movies and amusement parks, Nintendo is still reliant on its console segment.

Nintendo announced last month that it will launch a Nintendo Direct event on April 2 to reveal a successor to the popular home-portable Switch console this year.

The design of the Switch 2 seems to be very similar to that of its predecessor, which turned Nintendo's fortunes around following the Wii U's poor success.

For the fiscal year that ended in March, the company reduced its operating profit projection by 22.2percent to 280 billion yen ($1.8 billion).

The earnings dropped 46.7 percent to 247.6 billion yen over the April–December period.

The Japanese gaming powerhouse lowered its projections for fiscal 2025's net sales and Nintendo Switch hardware shipments.

A wide range of products will be released by other software publishers as well, and we will work to keep the platform fresh by adding new titles on a regular basis.

Hideaki Nishino was named President and CEO of Sony Group Corporation (SONY) and Sony Interactive Entertainment, the firm that makes PlayStation, this week.

His appointment will take effect on April 1, 2025. As part of an evolution aimed at optimizing synergies within SIE, Nishino was named CEO of the Platform Business Group with effect from June 1, 2024, and Hermen Hulst was named CEO of the Studio Business Group. This announcement was made in May 2024.