If you thought Nintendo’s 55% profit drop in Q1 was a tough mushroom to swallow, wait for the latest power-down. Nintendo just reported a 69% crash in net profit for Q2. 

With sales of the Switch screeching to a hault, Nintendo’s stock is wobbling more than a Jenga tower in a windstorm. And to make matters worse for fans hoping for an upgrade, Nintendo is sticking to its strategy of not fast-tracking the next-gen Switch announcement. (Sorry nerds, no Switch 2 wrapped under the tree this year.)

The Switch has been Nintendo’s secret star since it launched in 2017, turning Mario, Zelda, and Donkey Kong into household names once again. This console was a hit from the get go, pairing up everyone’s favorite characters with a portable, hybrid design that seemed like it would never lose momentum. 

Big releases like The Legend of Zelda: Tears of the Kingdom and the Super Mario Bros. Movie kept the console relevant last year, giving Nintendo a momentary boost. But now? The Switch has finally hit a wall (and it looks like Mario won’t be able to climb it this time).

Nintendo reported a 31% drop in hardware sales over the last quarter, a sign that the console simply just isn’t cool anymore. And with its eighth birthday creeping up, it’s starting to feel like that awkward Facebook video of The Backstreet Boys reuniting, where everyone’s dancing like their knees might give out. Investors and fans have been hoping for news of a successor to power up the next chapter, but Nintendo has other plans.

(Source: SELF Magazine)

And it kinda makes sense. Nintendo’s not about to risk a holiday “Game Over" by announcing a new console too soon. With the crucial year-end shopping season in full swing, they’re holding off on any Switch 2 reveal until at least next year. Shuntaro Furukawa, Nintendo’s president, confirmed that they’ll announce the next console by the end of March 2025, but they won’t rush it. 

(Source: The Outerhaven)

After all, the last thing they want is to throw a wrench into holiday Switch sales by encouraging fans to hold off on purchases. So instead, prepare yourself for some Mario-themed alarm clocks, Yoshi lava lamps, or maybe a Bowser coffee mug that’s “for display only” (perfect for the back shelf of your parents' basement). But a next-gen console? That’s staying firmly on the backburner.

Of course, Nintendo hasn’t always nailed it in the PR department. Remember the infamous 2016 Mario photo that left superfans pissed? The one where Mario was peeking out from behind a curtain with a grin that was more “serial killer” than “friendly plumber”? What was meant to hype up the Switch launch turned into a meme disaster, with Mario looking more like he was auditioning for a horror game than promoting a family-friendly console. 

(Source: VG247)

As former PR reps Kit Ellis and Krysta Yang recalled, the photo “caused some concern” internally, and fans memed it into oblivion. Lesson learned? Hopefully—Nintendo’s going to want to stay clear of another mishap like that when they eventually launch the Switch 2.

As the Switch limps toward the end of its lifespan, Nintendo’s leaning hard on its beloved characters and a handful of upcoming projects to keep the fans hanging on. They’ve got Super Mario Bros. Movie 2 slated for 2026, hoping to keep that nostalgia train chugging along. And hey, if we’re lucky, maybe we’ll get another Jack Black “Peaches, peaches, peaches” anthem to keep us entertained while we wait (be honest, that’s a fire song.)

(Source: 800 Pound Gorilla)

Oh, and speaking of time capsules, Nintendo’s stock is up a cool 409% since its IPO back in 1998, but this year? It’s barely budged, up just 1%.

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