The Nintendo Switch is already the third-best-selling console in video game history, but now that the PS5 and Xbox Series S/X have become more readily available, the hybrid console's popularity among gamers is starting to wane. Because of this, Nintendo's hardware sales are down. But, despite this recent development, Nintendo is steadfast in its investment in the Switch.

According to the company's latest financial call, sales of the Switch are starting to taper off and it's still not going to release a new console anytime soon.

In the past, Nintendo has enjoyed significant success with the Switch. It's a unique console that's designed for use both on the go as a hand-held and at home like a traditional console. This struck a chord with gamers worldwide and the Switch has since become a fan favorite. However, the console has started to show its age, which might explain a slowdown in sales. It's also possible other factors are in play that could explain the slowdown, ranging from improving competition and an overall "lack" of new exclusive titles.

The expectation from many gaming enthusiasts was for Nintendo to release the successor to the Switch to reignite interest and boost sales. However, the company has confirmed that there isn't any plans in place to launch new hardware this year.

Regardless, Nintendo remains committed to its current lineup of devices and believes in their enduring potential.

While the news might disappoint some, it's worth noting this decision could be part of a larger and more nuanced long-term play. By focusing on existing hardware, Nintendo can invest more of its resources towards the development of new games and improving the overall user experience. Thus, the Switch could continue to remain competitive in the gaming market even though it's becoming more obvious that it's lacking power under the hood.

Not to mention, this gap could give Nintendo a better shot at fully conceptualizing and developing a new console. Instead of rushing a new device to the market, Nintendo can take its time to ensure that whatever comes after the Switch is just as innovative and appealing.

Only time will tell what Nintendo is thinking of at the moment. For now, Switch users can look forward to the release of more exciting games and improvements to their current console, including the upcoming release of The Legend of Zelda: Tears of the Kingdom and the Switch port of Hogwarts Legacy, which is currently doing well on the PS4 and Xbox One.