Nintendo’s president says ‘there’s no end in sight to the chip shortage’

Nintendo’s president has said the global chip shortage will continue to hamper Switch production efforts for the foreseeable future.

“There’s no end in sight to the semiconductor shortage at this point,” Shuntaro Furukawa said on Tuesday (via Wall Street Journal) as the company reported its financial results for the year ended March 31, 2022.

Nintendo sold 23.06 million Switch consoles during the 12-month period, representing a 20% decline from the previous year when the console peaked at 28.83 million units.

The company expects to ship 21 million Switch consoles before the end of its current fiscal year in March 2023, which would represent a 9.8% decline from the previous year and a 37% decline from the year before that.

Nintendo also forecast net profit to fall 29% in the current fiscal year to ¥340 billion ($2.6 billion), and revenue to decline 6% cent to ¥1.6 trillion ($12.3 billion).

Lifetime Switch shipments now stand at 107.65 million units.

The CEO of Intel warned this month that the global shortage of semiconductors will now likely last until 2024.

While Xbox Series X and PS5 were released almost 18 months ago, both continue to suffer from stock issues as a result of the chip shortage, although recently Microsoft’s console has been more readily available than Sony’s.

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The Japanese company also reported its full-year financial results on Tuesday, which revealed that it shipped 11.5 million PS5 consoles during the 12 months ended on March 31.

While Sony expects to ship 56% more PS5s (18 million) during its current fiscal year, it claimed this total would still be unlikely to satisfy consumer demand.

Lifetime PS5 shipments now stand at 19.3 million units.