Nintendo CEO says no plans for new Switch model in 2020

Nintendo CEO says no plans for new Switch model in 2020

Nintedo Co Ltd. CEO Shuntaro Furukawa said on Friday that it has no plans to launch an upgraded Switch model this year. The news halted rumors that the gaming company would release a newer version of the hit handheld device.

His comments came a day after the company upgraded its Switch sales forecast for the year ending in March to 19.5 million units. However, compared to a previous outlook of 18 million units, the upgrade has been perceived as limited by a majority of analysts.

Nintendo had previously launched Switch Lite, a handheld-only version, in September which boosted demand for the console through the Christmas season.

The Kyoto-based company has long been rumored to have an upgraded prototype in the works as it neared the end of the year.

Nintendo shares plummeted by 5% in Tokyo, marking it the lowest since November. The benchmark index was up 1.4%.