Nintendo sees Switch sales drop, movie success

STORY: Nintendo is enjoying the box office success of "The Super Mario Bros. Movie”.

Presenting the gaming firm's latest results Tuesday (May 9), the company's president said that the movie had outperformed expectations.

And on Friday (May 12), Nintendo is set to launch "The Legend of Zelda: Tears of the Kingdom," one of the most widely anticipated games of the year.

The Kyoto-based firm reported that orders for the game are progressing well.

But there are warning signs at the Japanese company's core business.

Nintendo said it sees a 17% slide in Switch console sales in the financial year to end-March 2024.

This would mark a third consecutive year of decline for the console, which has been on the market for seven years.

The device has sold over 125 million units - but as interest slows, investor attention is now focused on a potential successor.

Though one analyst told Reuters that the company's predictions made it clear no new device was likely this year.

Nintendo said operating profit fell 15% year-on-year to around $3.73 billion in the year ended March.

The company forecast profit will fall another 11% over the current financial year.