Following Nintendo’s announcement of declining profits in its most recent fiscal quarter, president Shuntaro Furukawa has announced that the company currently has no plans to pursue further price hikes. As reported by Reuters, much of the declining sales in the recent quarter for Nintendo has been attributed to the Switch 2 price hike from earlier this year.
The company had confirmed that its operating profits had declined by around 16 percent to ¥73.9 billion for the quarter ending on September 30th, which roughly translates to $468 million. Sales went down by around 15 percent, which was noted as being a larger decline than Nintendo had been expecting.
Despite this, however, the company has remained confident for the rest of its fiscal year, with its 3 percent profit growth forecast still holding true. In the meantime, however, Morningstar’s director of equity and research, Kazunori Ito, has expressed the belief that this decline was expected, despite having arrived earlier than expected. He also noted that “investors have cooled on the Switch 2 platform” in the midst of the console’s second year.
Nintendo also revealed that the Nintendo Switch 2 sold 2.67 million units in the quarter,
