- Nintendo announced Wednesday that a new console, the Nintendo Switch Lite, will be released on September 20.
- The new product will be a smaller, lighter version of the original Switch, which has been the company’s best-selling console. It will also cost $100 less.
- Shares of Nintendo jumped on the news.
- Watch Nintendo trade live on Markets Insider.
The Nintendo Switch is getting a new look.
The Nintendo Switch Lite – a smaller, lighter version of the portable console – will be released on September 20 and cost $100 less than the original.
The Switch Lite will carry a price tag of $199.99 and come in three colors: yellow, gray, and turquoise. The product is intended to replace the Nintendo’s 3DS as the company’s main handheld console. It will play most existing Nintendo Switch games, as long as the game can function in “handheld mode.”
The launch has given the company a boost. It’s not known for embracing new technology, instead focusing on how the consumer will use new products and the right price point in its development. The original Switch has been the company’s fastest-selling console since its release in March 2017.
The popularity of the Switch continued into 2018, when it was the best-selling gaming console, beating out Sony’s PlayStation 4 and Microsoft’s Xbox One. In addition, six of the top 20 best-selling games in 2018 were made for the Nintendo Switch. By the second anniversary of the products’ launch in March, the company estimates it will have shipped 38 million units worldwide.
Now, Nintendo will have to continue producing games that can be played on the Switch and Switch Lite. The company’s 2018 performance showed that releases of new games drove sales for the hardware consoles. Without new games to play, there’s less incentive to buy an updated device, and nearly 85% of the games that can be played on the Switch are made by Nintendo.
Shares of Nintendo are up more than 40% year to date.
- Markets Insider