Nintendo’s newly announced Switch Lite has lead to a huge jump in the company’s share price.
Nintendo’s stock skyrocketed a 4.5% jump to ¥41,780 or $386.5 after the Switch Lite announcement. The new fully portable and non-dock-able Switch variant was rumored for months and it seems many investors are expecting it be a huge success for the company. The latest stock price is Nintendo’s highest since October.
The Switch Lite is a lower priced version of the standard Switch, priced at $199. You can read the full lowdown on the portable here.
Dr Serkan Toto, an independent video games analyst in Tokyo encouraged investment in Nintendo stock post announcement of the Lite stating (via FT) “Investors should see the Switch as way for Nintendo to substantially increase the install base and prolong the life-cycle of the console for years,”.
Furthermore Atul Goyal, an analyst at Jefferies, claims the Switch Lite will also undoubtebly lead to more game software volume sold “We have no doubt that this option will boost demand for both hardware and high-margin software.”
Nintendo is also rumored to be working on a Switch Pro for next year but information on that is scarce currently.
What do you think of Nintendo’s new portable? Let us know in the comments below.