Nintendo shares climb after report of new Switch models

Tokyo

NINTENDO CO rose the most in seven weeks after the Wall Street Journal reported the company plans to introduce two new Switch console models as early as this summer.

The shares climbed as much as 5.6 per cent to 32,150 yen (S$393.3) in Tokyo on Tuesday, the most on an intraday basis since Feb 4. One of the models will have enhanced features to cater to avid gamers, while the other version is expected to be a cheaper alternative for casual players, the Journal reported, citing unidentified Nintendo parts suppliers and software developers.

In January, Nintendo cut its forecast for Switch shipments to 17 million units in the fiscal year through March, down from an earlier projection of 20 million consoles.

The new models may be launched at the E3 2019 video game expo in Los Angeles in June, with a wider release possible months later, the Journal said, citing one person familiar with the plans. BLOOMBERG