Nintendo on Tuesday reported weaker-than-expected top and bottom results for its fiscal third quarter, slashing its forecast for the Switch console ahead of the release of its succesor. Nintendo said it now expects to sell 11 million units of its current Switch console,

Nintendo DS is still the King at the Big N, but Switch is within spitting distance of setting a very special company record.

TOKYO (Reuters) -Japan's Nintendo cut its operating profit forecast on Tuesday by 22.2% to 280 billion yen ($1.8 billion) for the financial year ending March. In the April-December period, profit fell 46.7% to 247.6 billion yen.

The Japanese videogame maker said Tuesday that net profit dropped 42% from a year earlier to 237.19 billion yen, for the nine-month period.

Japan's Nintendo cut its full-year sales forecast on Tuesday for the aging Switch console by 12% to 11 million units ahead of the launch of a successor device this year. The company also lowered its operating profit forecast on Tuesday by 22.

Nintendo Co. revised its full-year forecast down after profit and revenue shrank over the holiday period, with gamers increasingly looking forward to the release of its next-generation console.

Japanese video game giant Nintendo on Tuesday cut its annual net profit forecast after hardware and software sales for its Switch console fell in the first three quarters. "Nintendo Switch hardware and software sales through the third quarter were below expectations,