Japanese gaming giant Nintendo has said it will raise the price of its Switch 2 game console in Japan by 10,000 yen, or about 64 dollars, later this month. The firm says the rising cost of semiconductors is among the reasons for the price hike.
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Nintendo announced that the price of the Switch 2 system, which was released in June last year, will increase to 59,980 yen in Japan starting May 25. The firm also said the price in the United States will rise by 50 dollars to 499.99 dollars in September.
Nintendo said the hike is due to higher prices for semiconductors, such as memory, for game systems. The firm also said that, as crude oil prices stay high, various costs associated with production are expected to rise in the future.
Nintendo President Furukawa Shuntaro said in an online news conference that it was a difficult decision to make, given changes in market conditions. He added that he wants to sincerely apologize to customers for the significant inconvenience the move will cause.
Nintendo also announced its group-wide financial results for the last fiscal year that ended in March.
The firm reported that selling nearly 20 million Switch 2 units boosted its performance, and sales increased by nearly 100 percent year on year, reaching a record 2.31 trillion yen, or about 14.8 billion dollars. Net profit surged 52.1 percent.
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