Nintendo to Launch New Gaming Console

Nintendo will launch the Switch, its first new game console in about four years, on March 3 for $299.99 in the United States and 29,980 yen in Japan, the video game maker announced on January 13. The switch is cheaper than the current WiiU model in the international market with the price coming in at at a few dollars shorter, Reuters reported. Nintendo shares were down as much as 3% after the announcement, falling from 25,085 yen beforehand to as low as 24,365 yen in afternoon trade - 3.3% lower than Thursday’s closing price. That compared with a 0.8% gain in the benchmark Nikkei 225 share price index. Nintendo, which began by making playing cards in the late 19th century, is counting on the Switch to revive its earnings which rely heavily on console sales. Its original Wii console, which debuted in 2006, captured casual gamers with popular fitness and sports features, propelling Nintendo’s profit to record highs.