Asia Tech Wire (May 8) -- Japanese game console and software developer Nintendo plans to announce its next-generation Switch console by March 31, 2025.

Nintendo announced its earnings results for fiscal year 2024, which ends March 31, 2024, on Tuesday, showing sales of 1.6718 trillion yen for the fiscal year, up 4.4% year-on-year.

In FY2024, the Japanese company realized an operating profit of 528.9 billion yen, up 4.9% year-on-year.

Meanwhile, Nintendo reported a net profit of 82.56 billion yen for its fiscal fourth quarter, down 4.6% year-over-year.

Nintendo fell more than 5% in Tokyo on Wednesday following the earnings results.

The company disclosed that the global sales of its best-selling console Switch had totaled 141.32 million units by the end of March 2024, with 1.96 million units sold in the last three months.

Nintendo President Shuntaro Furukawa said in a post via social media platform X that the company plans to announce the successor to the Switch console within fiscal year 2025.

Furukawa said the company will host a Nintendo Direct this June to introduce the Nintendo Switch software lineup for the second half of 2024.

The Japanese company released the first-generation Switch globally on March 3, 2017, and followed it up with a lighter version, Nintendo Switch Lite, and a version with an upgraded screen, Nintendo Switch - OLED Model, in 2019 and 2021.