Nintendo’s profits tumbled as sales of its Switch console lost momentum, prompting the Japanese video-game maker to lower its full-year forecasts. Kyoto-based Nintendo Co., which created the Super Mario franchise,

Gaming giant Nintendo has cut its net profit forecast for its financial year after profit and sales fell as gamers start to look ahead to the release of its next console.

Japan's Nintendo cut its full-year sales Switch forecast by 12% to 11 million units as the aging console loses momentum ahead of the launch of a successor device this year. Nintendo remains dependent on its console business even as it has opened stores and its roster of characters feature in theme parks and film.