NTDOY - Nintendo not looking at hiking Switch prices - Nikkei

Despite inflation that has roiled a number of industries, particularly those making products for end consumers, Nintendo ( OTCPK:NTDOY ) isn't currently considering raising the price of its Switch console, Nikkei reports.

That comes from an interview with President Shuntaro Furukawa, who says Nintendo wants to avoid "pricing people out" of the popular console.

Well-publicized snags in shipping channels and the semiconductor supply chain contributed to Switch sales sliding 23% in the second quarter, and the outlook suggests profits will drop accordingly.

Still, the company is sticking to a forecast of selling 21M Switches this fiscal year. "It's in its sixth year since its launch. All I can say is that we'll try to keep up sales at the same pace," Furukawa told Nikkei.

Software helps, though, and Furukawa pointed to a solid pipeline ahead. "We have a lineup of new games that will allow us to take a crack at meeting our sales forecast, including Splatoon 3 coming out in September and Pokemon [Scarlet and Violet] in November," he said.

The company will continue to sell three Switch models, he said: the standard Switch, the cheaper and smaller Switch Lite, and the high-end OLED-screen model.

As for absorbing costs, Furukawa says "Costs have undoubtedly increased for shipping not only by air, but also by sea. We're thinking about what we can do." The OLED model will likely continue to be less profitable than the other models, he said.

Nintendo is also making purchases of foreign currencies to hedge a weak yen, he added.

The standard Switch model has a list price of $299.99; the feature-light Switch Lite is priced at $199.99, and the OLED screen Switch lists at $349.99.

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