The Next Nintendo Console Is (Probably) Coming in 2024
Key takeaways
- Rumors of a new Nintendo console in 2024 are circulating in the gaming world
- Nintendo doesn’t list on major U.S. stock exchanges
- U.S. investors can purchase Nintendo ADRs over-the-counter
Details about Nintendo’s next-gen console have been hard to pin down. According to the latest intel, we can expect a portable device (a la the Switch) that supports cartridge-based games and has an LCD screen sometime in 2024. More on what that means for Nintendo and entertainment below.
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What do we know about Nintendo’s newest?
Nintendo president Shuntaro Furukawa hasn’t said much, but in June he spoke to some kind of new hardware on the horizon: “As for the transition from Nintendo Switch to the next-generation machine,” Furukawa said to investors, “We want to do as much as possible in order to smoothly transition our customers, while utilizing the Nintendo Account”.
The Nintendo Switch has sold 125 million units since its release in 2017, so the pressure is on to put out something just as successful. Over 1 billion Switch games have been sold, so you might think this next-gen console would be guaranteed to have backward compatibility. But VCG reported that some publishers “expressed concern that legacy support for Switch games could negatively affect sales of next-gen titles”.
Other sources report the new console is “progressing well”, but the gaming world still awaits confirmation that it will include 4K resolution or any processing power upgrades.
If the rumors are true — and so far they are just rumors — all questions will be answered in 2024 when the console drops.
Does the market play video games?
Historically, Nintendo has been beloved by consumers and considerably less beloved by investors. Nintendo stock has tended to trade at an earnings multiple below the market average. That said, the Mario movie and new Zelda game have very recently boosted numbers: Nintendo’s revenue for the June quarter was 461.34 billion yen ($3.2 billion), up 50% year-on-year.
Will new hardware be another boom or a bust for Nintendo? We’ll have to wait and see.
The bottom line
Nintendo is the maker of legendary entertainment with huge potential, but its financial performance hasn’t been as much of a smash. With movies, new games, and now potentially new hardware, we’re interested to see if Nintendo can pull off a win big enough to tempt more U.S. investors to the two Nintendo ADRs available OTC: NTDOY and NTDOF.
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