Game players have been eagerly waiting for the official announcement of Switch 2. Will Nintendo's sluggish performance soon receive a savior?

Electronic gaming giant Nintendo announced on Thursday that the highly anticipated new version of the Switch hybrid game console will be released this year, equipped with a larger screen and controllers, aimed at injecting new vitality into its struggling hardware business and weak financial fundamentals. The company showcased the Switch 2 in a video teaser. The video starts by showing the current version of the Switch, then removing two "Joy-Con" controllers to expand the size of the tablet they connect to. The video then shows the Joy-Con controllers significantly increasing in size and changing to a matte black color. The new Nintendo Switch 2 will have controller grips and cases available in light blue and red styles. When the console is placed on a stand or docked for play on a home TV, the Joy-Con cases appear to be able to connect to the controllers magnetically when removed from the main tablet of the Switch 2. The Switch 2 also features an improved U-shaped stand that can be placed farther back, allowing the console to lay almost flat on a surface. The device's design is similar to the leaked models of the Switch 2 that appeared online before the official release. Nintendo has not announced the release date of the Switch 2, but mentioned that more details will be revealed during the next "Nintendo Direct" online event on April 2. The company revealed that the Switch 2 will be backwards compatible, meaning old users of Nintendo will be able to play old Switch games on the new model. Nintendo hopes that the Switch 2 will boost its console sales. The current generation of the Switch was released in March 2017 and has been on the market for nearly eight years. Most console manufacturers tend to wait about six to seven years before launching a new model for replacement. In the second quarter of the fiscal year ending in September, Nintendo reported a net profit of approximately 27.7 billion yen (about 178.2 million US dollars), a decrease of about 69% year-on-year. The company's total revenue decreased by 17% year-on-year to 276.7 billion yen. In the six months ending on September 30, the total sales of the Nintendo Switch were 4.72 million units, compared to 6.84 million units in the same period last year. More importantly, Nintendo lowered its operating profit forecast for the full year by 10% to 360 billion yen (about 2.4 billion US dollars), and expects the full-year Switch sales to be only 12.5 million units, down from the previous forecast of 13.5 million units. It is uncommon for gaming companies to lower their expectations before the critical year-end shopping season. Since 2022, Nintendo has been dealing with the issue of declining demand for its flagship console, the Switch, which has been popular worldwide for more than seven years. Gamers have been waiting for a new version of the Switch, but Nintendo has consistently disappointed them. Just a week ago, various leaks about the upcoming models of the Nintendo Switch were circulating in the market, sparking discussions about the details of the new version and showing the global gaming community's eager anticipation for the new Switch model.