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Nintendo to release teaser video for new console today

Oct. 20, 2016 2:11 AM ETNintendo Co., Ltd. (NTDOY) StockNTDOYBy: Jason Aycock, SA News Editor12 Comments
  • Nintendo (OTCPK:NTDOY) shares are up 3.8% in Tokyo on news that the company will release a teaser video highlighting its coming console, codenamed NX, later today.
  • The three-minute video will be made available on the company's website at 11 p.m. Kyoto time (10 a.m. ET). That's not much time to jam in information, but "Nevertheless, we will be looking to get a sense of how the NX is different, and what kind of things will be made possible as compared to previous and existing game devices," says Mizuho's Takeshi Koyama.
  • Stakes are high for the unit as console gaming is still at the center of Nintendo's business (despite a burgeoning pivot toward smartphone gaming), and the Wii U has had relatively disappointing sales (13M units since a 2012 launch).
  • A week ago, Macquarie downgraded the company's shares on expectations that a reveal coming this week would result in a console price that would generate a "major" disappointment in terms of volume sales.
  • The new console is set for a March release.

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