Nintendo released its latest set of financial results, this time for the first quarter of fiscal year 2023, which includes the months of April, May and June 2022. While hardware sales of the base Switch, OLED model and of the Switch Lite exceeded 111 million units sold, sales are down nearly 23% overall.
Specifically, hardware sales for Nintendo are down 22.9% this quarter. Broken down, base Switch sales were down 60% in the first quarter while Switch Lite sales were down 48.4%. Nintendo did not report sales of the OLED Switch model, possibly because it bundles the OLED model with the base Switch. As for why hardware sales are down this quarter, Nintendo cites the current shortage of semiconductors, which is also affecting other hardware makers like Xbox and PlayStation.
“Unit sales for the entire Nintendo Switch family of consoles were down 22.9% year-over-year to 3.43 million units,” Nintendo’s earnings report said. to 4.45 million units sold at the same time last year. “In the first quarter of last year, titles from other software companies helped drive hardware sales, particularly in Japan, but with the semiconductor shortage affecting first-quarter production, sales equipment units decreased year-on-year.”
Software is also down for Nintendo, down 8.6% this quarter. It reached 41.41 million software units sold in the first quarter of FY23, compared to 45.29 million units at the same time last year.
“In terms of software sales, Nintendo Switch Sports and Mario Strikers: Battle League, both released this quarter, got off to a good start, and sales of evergreen titles such as Mario Kart 8 Deluxe remained flat. but overall software sales have not kept pace. the strong performance of the first quarter of the prior year and totaled 41.41 million units, down 8.6% year-on-year. »
Despite mostly broad-based declines, Nintendo says it’s making no changes to its consolidated financial guidance for the fiscal year ending March 31, 2023, which was announced on May 10, 2022.
“Due to delays in the supply of components such as semiconductors this year, we were unable to conduct production as planned,” the results said. “However, we expect supply to gradually improve from late summer through fall, giving us a clearer outlook for production for the remaining calendar year. In anticipation of the holiday season, we will leverage appropriate shipping methods and work to deliver as many Nintendo Switch systems as possible to consumers in every region.”
With the Switch having surpassed 111 million units sold, it doesn’t beat any of the previous Nintendo consoles. When Nintendo released its latest financial results ahead of today, it revealed that the Switch had sold 103 million units, surpassing lifetime sales of the Wii, putting it behind the Game Boy and Nintendo DS. With 111 million units sold, it is still behind the 118.69 million of the Game Boy and the 154.02 million of the DS. While the DS still seems pretty far away, the Switch is expected to overtake the Game Boy at some point in the future.