Shares of Nintendo fell on Monday after a report suggested the launch of the Switch 2, the next version of its flagship gaming console, would be delayed.
Nintendo’s stock in Japan closed 5.84% lower.
Bloomberg reported on Saturday that Nintendo had told game publishers that the Switch 2 would be delayed until the early months of 2025, citing people with knowledge of the matter.
Nintendo was targeting a release of the console toward the end of this year, but told game makers it could slip into next year, the report said.
Nintendo was not immediately available for comment when contacted by CNBC.
Analysts who spoke to CNBC earlier this year also said they expected a new Switch console to be launched in the second half of this year.
Nintendo’s stock has been on a tear in the last year, rising around 53%, partly because investors have been anticipating the launch of a new console, which could give the Japanese gaming giant a boost.
The current Switch is nearly seven years old, but Nintendo has managed to keep up momentum for the console thanks to the release of the ”Super Mario Bros. Movie” as well as a new Zelda game which has boosted interest in the device.
This month, Nintendo raised the forecast for Switch sales in the current fiscal year ending March from 15 million units to 15.5 million units.
The company has remained tight-lipped about the Switch successor. A delay to the device and launch in early 2025 would miss the key holiday season in December.