Shares of Japanese game companies fall as much as 7 percent as new console teaser fails to impress.
Shares of Nintendo plunged after the gaming giant's reveal of its successor to the Switch has left some fans disappointed.
Shares of the Japanese gaming company fell as much as 7.2 percent on Friday after a music video for the Switch 2 suggested that the console will be very similar to its predecessor.
The company recovered some of its losses in the afternoon, and its share price was down about 4.2 percent as of 4pm local time.
“Nintendo played well. Switch 2 looks like it's harder and all the old fun is worse,” gaming YouTuber TwoQuickOnes said in a post on X.
While Nintendo's teaser didn't detail the technology, it did show off a device that has the same look and feel as the original hybrid console.
Compared to the original Switch, the new console has a larger screen and has controls that slide into the device instead of sliding into it like before.
The two-minute teaser also revealed a new installment in the long line of Mario Kart games.
The Kyoto-based company said it will reveal more details about the console at the Nintendo Direct event on April 2.
The Switch, released in 2017, has sold over 146 million units worldwide, making it the third most popular console after Sony's PlayStation 2 and Nintendo's DS.
The console's strong popularity helped return Nintendo to profitability after years of weak sales for the poorly received Wii U console.