Nintendo to launch upgraded Switch console in 2021, reports say

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Nintendo is going to unveil an updated version of its Switch gaming console next year, according to multiple reports.

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According to Taiwan's Economic Daily News and Bloomberg, the Kyoto, Japan-based gaming giant will unveil a new console with upgraded processing power and 4K graphics. It will also unveil a new series of games that will accompany the launch of the console.

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The console will be launched after the holiday shopping season, when Microsoft and Sony are slated to release their upcoming consoles, the Xbox Series X and PlayStation 5, respectively.

11-year-old Ansel, the photographer’s son, plays Fortnite featuring Travis Scott Presents: Astronomical on April 23, 2020, in South Pasadena, Calif., on a Nintendo Switch. (Neilson Barnard/Getty Images)

Ticker Security Last Change Change %
NTDOY NINTENDO CO LTD 68.43 +2.03 +3.06%
MSFT MICROSOFT CORP. 221.62 +5.15 +2.38%
SNE SONY CORPORATION 80.78 +1.41 +1.78%

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The news comes just days after Nintendo reported a 428% surge in profit during its most recent quarter, aided in part by the strength of the "Animal Crossing: New Horizons" video game and the continued strength of the Switch.

In the period ending June 30, Nintendo's profits rose to 144.7 billion yen ($1.37 billion), more than twice the 71 billion yen that was expected.

FOX Business has reached out to Nintendo with a request for comment.

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The company sold more than 3 million Switch units and 2.6 million units of its Switch Lite console, as well as 10.6 million copies of "Animal Crossing: New Horizons."

Shares of Nintendo were rising sharply Wednesday morning, gaining 2.5% to trade at $68.07.

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