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Nintendo expects to sell no more than 21 million Switch consoles this fiscal year

Nintendo expects to sell no more than 21 million Switch consoles this fiscal year

The Japanese company Nintendo has prepared a report on the results of last fiscal year, which ended in March of this calendar year, only now, which allowed CNBC to clarify the statistics both in terms of finance and production volumes of game consoles.
A total of 23.06 million Switch game consoles were sold during the period, down from 28.83 million consoles sold a year earlier.Advertisement Image source: NintendoIn the current fiscal year, which began April 1, Nintendo expects to sell no more than 21 million consoles.
This will be the second straight year of declining Switch sales, but the company tends to attribute that to continued component shortages.
When it will end, Nintendo isn't ready to predict - only that it won't be this year.
Circulation of the updated version Switch with OLED-type display by the end of March did not exceed 5.8 million units.Nintendo's revenue from games increased by 1.8% compared to the previous fiscal year.
Nintendo's annual player audience reached 100 million people.
In the current fiscal year, the company expects to sell 210 million copies of games, down 10.7% from the previous year.
Along the way, it announced a 10-to-1 split of Nintendo stock beginning Oct.
1 this year, a move that should make the securities more accessible to retail investors.
This week, the company will spend $432.9 million to buy back some of its own shares from the market.
All of this has contributed to Nintendo's stock price rising 5 percent since the start of the current calendar year, although assets from technology companies have not been particularly popular with investors at this time.

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