Nintendo Warns Of 27% Profit Drop, Announces Switch 2 Price Hike

Japanese gaming giant Nintendo said Friday it will hike the price of its Switch 2 gaming console as memory chip costs soar, warning that net profit would fall 27 percent this year.

Sony whose PlayStation5 has already risen in price was more upbeat, projecting a 13-percent rise in income but still with falling sales of its ageing console.

Nintendo said the Switch 2 price in Japan will rise…