Nintendo's shares experienced a sharp decline on Monday, dropping by 6% following reports suggesting a delay in the release of its highly anticipated successor to the Nintendo Switch console.

While Nintendo has refrained from providing official comments regarding plans for a new console, sources familiar with the matter revealed that the gaming giant is now looking towards an early 2025 launch for its next-generation device, as opposed to the previously speculated late 2024 release.

Nintendo Delays Console Launch Until March 2025

According to Bloomberg, which independently verified the news through its sources, Nintendo has been informing game publishers about the delay, advising them to expect the new console no earlier than March 2025.

This shift in the launch timeline has been met with notable market reaction, with Nintendo's shares experiencing their most significant intraday decline since October 2021, plummeting by as much as 8.8% in Tokyo trading on Monday.

The decision to postpone the release of the successor to the wildly successful Nintendo Switch marks a deviation from earlier expectations.

Nintendo President Shuntaro Furukawa had previously underscored the importance of maintaining the momentum of the Switch business, further fueling speculation about the imminent release of a new console.

Read Also: Switch 2: Here's Everything We Know About Nintendo's Next Hand-Held Console

Additional Time for Nintendo's New Console Finalization

While details regarding the upcoming device remain scarce, industry insiders suggest that the delay could provide game developers with additional time to finalize their projects for the new platform.

Anticipated titles, including the highly awaited Metroid Prime 4, are expected to accompany the console's launch, potentially offering consumers a robust gaming experience upon release.

Rumors surrounding the specifications of the new console indicate upgraded features such as a next-generation NVIDIA Tegra processor with real-time ray-tracing capabilities and an enlarged 8-inch display.

This delay also raises questions about pricing strategies, with some industry analysts predicting a potential increase compared to the launch price of the original Nintendo Switch.

Nonetheless, Nintendo continues to focus on its existing hardware, with Furukawa reiterating that the current iteration of the Switch will remain the company's primary focus heading into 2024.

Plans for the upcoming fiscal year, including potential details about the delayed console launch, are expected to be unveiled during Nintendo's next earnings briefing scheduled for May.

The Nintendo Switch, initially released in 2017, has consistently performed well in the gaming market, outselling competitors like the Sony PS5 and the Xbox Series S/X. Recent iterations, such as the OLED model released in October 2021, have further bolstered Nintendo's position in the industry.

Related Article: Nintendo Switch 2 Rumors: Backwards Compatibility, Custom Nvidia Cip, & More!