Reports have emerged Nintendo NTDOY is releasing a lower-cost Nintendo Switch Lite on Sept. 20, and it will cost $199.
According to Cnet’s Scott Stein, this Lite version isn't a sequel to the Switch.
“It's more of a lower-cost spin-off. It'll also be the only new Nintendo Switch hardware this holiday, as Bowser says the larger Switch won't get an upgrade right now. But maybe that's exactly what's needed. At the least, it's finally a lower-priced Switch,” writes Stein.
Also on Wednesday, Wedbush Securities also upgraded Nintendo from Neutral rating to Outperform.
“The two systems will complement each other and co-exist in the marketplace,” Nintendo of America president Doug Bowser told The Verge.
Nintendo shares were trading up 3.32% at $47.95. The stock has a 52-week high of $48.30 and a 52-week low of $31.38.
Related Links:
Video Game Sales In May Show Shift To Downloads
Nintendo May Move Production Out Of China Amid US-China Trade Dispute
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
