Nintendo's Switch Sales, Profit Slump as Successor Console Awaited.

Nintendo has reported a decrease in first-quarter net profit due to weaker sales of its aging Switch console and software. Net profit fell 55% from a year earlier to 80.95 billion yen ($542 million) for the three months ended June. First-quarter revenue decreased 47% from a year earlier, with Switch sales dropping 46% and Switch software sales falling 41%. Nintendo plans to announce a successor to its seven-year-old Switch console by the end of March 2025 and has been trying to diversify its income streams through movies and other forms of entertainment. [Extracted from the article]