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7/6/2021, 5:13 PM (Source: TeleTrader)
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Nintendo launches new gaming console despite chip shortages

Nintendo consumer electronics company announced on Tuesday the release of its new upgraded Switch video game console to be available on October 8. The announcement comes amid a severe global chip shortage that has mostly affected the auto and electronics sector and prevented other video game competitors from meeting the high demand.

Earlier, Nintendo shared that in the year ending March 2021 it sold 28.8 million consoles, but it expects to sell 25.5 million more units this year. The Switch has been in high demand with customers, but the company faced troubles at the beginning of the pandemic due to semiconductor shortages.

The Switch has been dominating the gaming consoles market in the United States for nearly two consecutive years. The updated version is expected to reach in sales industry's lifetime leader Wii.

Baha Breaking News (BBN) / LH