Nintendo Stock Plummets as Switch Sales Decline Despite Rising Digital Revenue

Nintendo expects Switch sales to decrease 15% next year but digital revenue to increase.
Nintendo reported lower profits and revenue due to declining Switch console sales over the past year.
The aging Switch console faces tough competition as sales drop 22% despite releasing an upgraded OLED model.
Nintendo confirms no new Switch hardware planned for this year but hints at a potential new console for 2024.
Though Switch sales are down, Nintendo's digital sales and user engagement remain high, providing some optimism for the company's future.