Investing.com – Japanese video game company Nintendo announced its plans to launch a game Converts (NYSE:) 2 console, a successor to the popular Switch, is due later this year. The Kyoto-based company did not reveal pricing details for the new console but promised to provide more information at its Nintendo Direct event on April 2.
The company will unveil the next-gen Switch 2 on April 2, which will begin phasing out the nearly eight-year-old flagship model. The new model is similar to the current Switch in terms of concept and design, as revealed in a two-minute teaser video posted on Nintendo’s website on Thursday. The video did not reveal many details, but it showed a new version of the Mario Kart game and confirmed the device’s compatibility with previous versions of the original Switch games. The company promised to reveal more details in April.
Game developers hope Nintendo’s new platform will revive momentum in an industry that is currently competing with a wide range of entertainment options for users’ time. Consoles are increasingly competing with popular PC games, leading to project cuts and employee layoffs across the industry. Many game publishers are preparing their best franchises for the new Switch in hopes of attracting gamers.
The new console will also support Nintendo’s online gaming services, a feature the company confirmed in November. The original Switch console has sold over 146 million units to date. However, waning momentum for the console, which launched in 2017, prompted Nintendo to cut its full-year earnings and sales forecasts and report its fifth straight quarter of lower profits.
The announcement of a successor to the Switch has been eagerly awaited by consumers. The Switch faces competition from more powerful and modern updates from competitors such as Sony (NYSE:) Group Corp. and Microsoft Corporation (Nasdaq:). Along with new hardware features, the focus is on Nintendo’s ability to meet demand when the console launches.
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