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Nintendo shares jump on announcement of the imminent launch of Switch Lite.
Nintendo shares jump on announcement of the imminent launch of Switch Lite.

Nintendo shares jump on imminent launch of Switch Lite

INTERNATIONAL NEWS

Reuters - Jul 16th, 11:38

Shares in Japan’s Nintendo Co rose more than 4 percent last week after the company said it would soon launch Nintendo Switch Lite, a cheaper, handheld version of its hugely popular Switch games. 

The Kyoto-based company said the new device would launch on Sept. 20 at a suggested retail price of 19,980 yen, or $199.99, compared with $299 for the Nintendo Switch.

Nintendo shares had risen on media reports earlier this year of a low-cost version of the Switch console, only to be battered after management appeared to dampen such speculation over the past few months.

In mid-morning trade, Nintendo's shares were up 3.6 percent, while the benchmark Nikkei average .N225 was flat.

“A lower-priced version should stimulate demand,” Jefferies analyst Atul Goyal wrote in a note to clients.

He said the new device directly targets the 75 million owners of Nintendo’s 3DS hand-held device, and that “this lower-priced version should add fuel to fire as this price-point directly targets those” owners.
IOL 

Read more about: switch games | shares | retail | nintendo

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