The Japanese video-game company behind the Super Mario and Pokemon franchises announced it's raising prices on the Nintendo Switch 2, citing challenging business conditions.

The Switch 2 price hike follows similar increases in the prices of other game consoles and consumer electronic devices in the past few months.

Nintendo said the price of the Switch 2 in the U.S. will rise from $449.99 to $499.99. In Japan, Nintendo will hike the price from 49,980 yen to 59,980 yen.