Sharp Corp. on Thursday revealed it was supplying liquid crystal displays to an “upcoming” gaming console, potentially spurring speculation that Nintendo Co. is getting ready to update its popular but aging Switch.
(Bloomberg) — Sharp Corp. on Thursday revealed it was supplying liquid crystal displays to an “upcoming” gaming console, potentially spurring speculation that Nintendo Co. is getting ready to update its popular but aging Switch.
Sharp Chief Executive Officer Robert Wu said the Japanese firm, which is owned by Taiwan’s Foxconn Technology Group, has been working closely with an unnamed company on developing a gaming console since it was in the R&D phase. Sharp plans to launch pilot LCD-panel production lines this fiscal year for the new device, he said.
“I can’t comment on any details regarding specific customers. But as to a new gaming console, we’ve been involved in its R&D stage,” Wu told analysts on a call after releasing quarterly earnings.
Wu was careful to avoid identifying the company or its impending product. After the analyst call, Sharp deleted from its online presentation slides a mention of a new game device it is a supplier for.
Sharp has worked with Nintendo before. Investors have anticipated that Nintendo will update its six-year-old marquee device next fiscal year, which could catalyze a flagging stock price.
The Japanese company this month said it expects to sell 15 million units of its Switch console this fiscal year, down sharply as it loses momentum to relatively newer rivals such as Sony Group Corp.’s PS5. Analysts including UBS Securities analyst Kenji Fukuyama have said a new Switch is at least 12 months out.
Read more: Nintendo Warns of Big Slowdown in Switch Console Sales
(Updates with company deleting line from its presentation materials in fourth paragraph)
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.