Is there a Nintendo price reduction this year? Nintendo explains rumors

(/Image credit- Video Games Chronicle) The gaming giant finally responds to the persistent rumors, stating that no price reductions on Nintendo Switch systems will take place until at least early 2024, according to the reports. Although the revelation might have saddened some fans, it has inspired a new wave of interest in what the future holds for the enormously well-liked gaming device. For a while now, there have been numerous rumors on the internet about a potential Nintendo Switch replacement. However, the Japanese corporation has kept mum on the matter despite several leaks and insider rumors, leaving fans to speculate and imagine what might happen next. [caption id="" align="aligncenter" width="480"] Image credit- Metro News[/caption] Astounding hardware enhancements are also the subject of rumors. We predicted that the Nintendo Switch 2 would feature a potent Nvidia Tegra system-on-a-chip, a Sharp LCD display, and even compatibility for 4K resolution in September 2022. Even though none of these hardware improvements have been confirmed, they are exciting enough for gamers. Many fans have been speculating about the likelihood of a price reduction on current models since rumors of a new console have been circulating. After all, a newer Switch model would need to set itself apart from the older model. However, considering that the OLED Switch is already $349.99, GameRant estimates that any new console will likely cost $400 or more. Nintendo could make a future Switch sequel even more alluring to budget-conscious gamers by lowering the cost of its current models by $50 or more. [caption id="" align="aligncenter" width="1920"] Image credit- Gaming Bolt[/caption] President Shuntaro Furukawa announced recently that this fiscal year, there won't be any price reductions on Nintendo Switch hardware. So, until at least April 2024, the present costs for the Nintendo Switch, its OLED update, and the handheld-only Lite will not change. Why have prices not decreased? Furukawa claimed that despite some production materials becoming less expensive, Switch manufacturing costs are still high. It is difficult to predict whether and when price reductions may be possible as a result. It is difficult to make assumptions regarding the situation because further information about Nintendo's upcoming system is needed. There won't be any hardware announcements throughout this fiscal year, according to Furukawa. Also read: Tesla Price Cuts in California Didn’t Save Market Share There is no disputing that the Nintendo Switch has been a tremendous success for the firm despite the doubts. The Switch sold 125 million hardware units as of March 2023, a slower growth rate than the prior year, but software sales—which surpassed the 1 billion mark on sales—exceeded projections, as we revealed a few days earlier. It will be fascinating to see how the console changes over the next few years. Meanwhile, fans can sigh with ease knowing that this year's costs for Nintendo Switch hardware won't change.