Nintendo is lifting the price of the Switch 2 globally, including in Australia, as the gaming giant warns hardware sales are set to slow in the year ahead despite a blockbuster launch year.

The company confirmed the Nintendo Switch 2 will rise from A$699.95 to A$769.95 in Australia from September 1, a $70 jump that pushes the console firmly into premium territory.

Similar increases are rolling out globally, with US pricing climbing from US$449.99 to US$499.99 and European pricing rising by €40.

Nintendo said the increases were being made “in light of changes in market conditions” and broader global business pressures.

The move comes after a strong first year for the console. Nintendo sold 19.86 million Switch 2 units in its first full fiscal year – well ahead of the original Switch’s 15.05 million launch-year performance.

But the Japanese company is forecasting sales to slow sharply over the next 12 months, expecting Switch 2 sales to fall to 16.5 million units. Revenue is also forecast to decline 11%, while net profit is tipped to drop 27% to ¥310 billion (A$3.2 billion).

Nintendo’s annual profit surged 52% to ¥424 billion (A$4.3 billion) in the year ending March, driven by strong hardware demand and software sales including Mario Kart World and Donkey Kong Bananza.

The price hike reflects broader pressures across the gaming industry, where console makers are grappling with rising component costs, tariffs, supply chain volatility and memory shortages.

Sony and Microsoft have already lifted prices for the PlayStation and Xbox in several markets over the past year.

Despite the weaker hardware outlook, Nintendo expects software sales to continue growing, forecasting 60 million Switch 2 game sales next fiscal year, up from 48.7 million.

The company is also continuing its expansion beyond gaming hardware, with entertainment projects becoming a growing revenue stream. Its latest animated release, The Super Mario Galaxy Movie, has reportedly grossed more than US$800 million globally, while a live-action adaptation of The Legend of Zelda is scheduled for release in 2027.