On the surface, Nintendo has had an exceptionally good year. The Switch 2 became the company’s fastest selling console in the company’s history, having moved over 10 million units since it launched. But not everything is well for the company. Switch 2 sales came in lower than expected during the holidays, attributed to the lack of a major western title. And as it turns out, the company’s share price isn’t doing well either.
A Sharp Decline From Record Highs
In August 2025, Nintendo’s Japanese share price hit a record high of ¥14,795, the equivalent of $93.25 USD. No surprise, given the strong launch of the Switch 2. But since then, the price has fallen by 32.7% to ¥9,950. In terms of a drop, it’s the steepest one since the 2008 great recession.
So why has investor confidence declined since summer 2025? Paul Tassi at Forbes believes there’s a couple of reasons. First, many are speculating the Switch 2 will have a price hike at some point in the near future. Back in August, the original Switch consoles got an increased price tag, but the Switch 2 has managed to avoid that so far. But with competitors also raising their hardware prices, some shareholders believe Nintendo won’t be able to avoid it for long. Prices on the Switch 2 could shoot up to $500, $200 more than the original Switch. The current situation with RAM prices doesn’t help matters.
The other reason hits a little closer to home for gamers. As Nintendo alluded to when referencing low holiday sales, the console hasn’t had a major first-party hit yet. That’s not to say titles like Mario Kart World and Donkey Kong Bananza haven’t sold well, but not to the scale of something like Breath of the Wild. And despite reasonably good support for third-party titles with consistent Nintendo Directs, those games haven’t proven to be blockbusters either. Nintendo will likely look to come out with a major Mario or Zelda title sometime in the near future to adress this.
But as Tassi points out, Nintendo is still in a comfortable position in the gaming industry. Despite the drop, the Switch 2 is still selling well while other competitors like Xbox are struggling. So, while share prices may decline in the near future, Nintendo fans and executives don’t need to panic just yet. But if prices rise without any major titles on the horizon, things could go south fast.
For more coverage, check back regularly with our Other Games section.
