Nintendo prices its first console in about four years above market expectations, disappointing investors and clouding its prospects of winning back gamers who have shifted from consoles to smartphones. Laura Frykberg reports.
It's one of the best known players in the gaming industry.. But Nintendo's latest move is a risky one. Releasing a new gaming console in March.. When many now play on their smartphone instead. (SOUNDBITE) (Japanese) NINTENDO PRESIDENT TATSUMI KIMISHIMA, SAYING: "Nintendo Switch is a new home video game console that offers a new way of playing video games." The console will cost just under 300 dollars in the U.S., while in Japan, it's just shy of 30,000 yen. The higher-than-expected price saw shares in the company drop to a two month low after falling 6.3 percent. Players are more optimistic. (SOUNDBITE) (Japanese) 50-YEAR-OLD BUSINESS MAN, DEYUKI KOSUGI, SAYING: "It offers various ways to enjoy games, I think it's brilliant". (SOUNDBITE) (Japanese) 27-YEAR-OLD BUSINESS WOMAN, SHOUKO SHIRATORI, SAYING: "When I held it and played it, I realised it's really light and small. I think I want one for myself." Nintendo says companies are developing dozens of games for the console. Including popular titles like 'The Legend of Zelda'. In the hope it revives the popularity of the brand. Its last console sold 88 million fewer copies than the console released before that.