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Nintendo
shares plunged on Monday after the gaming giant warned sales of its flagship Switch 2 console would fall this fiscal year and after hiking the price of the device due to rising memory costs.
Shares of Nintendo closed 8.4% lower in Tokyo, Japan to 7,020 yen, the lowest since August 2024. The stock has fallen 34% this year.
On Friday, Nintendo announced price hikes for its Switch 2 console in markets across the world as an unprecedented surge in the price of memory chips, driven by the AI infrastructure boom, has increased the cost of producing the device.
