Nintendo CEO Shuntaro Furukawa said the gaming company has no plans to launch a new Switch model this year. Nintendo launched a handheld-only version of its hit console in September, driving demand for the hit device through the year-end shopping season.

There have been media reports the company is preparing an upgraded version of the Switch. Nintendo’s shares were trading down 4 percent on Friday morning, a day after the company upgraded its Switch sales forecast for the year ending March to 19.5 million units – a number seen as conservative by many analysts.

To recall, the Japanese gaming giant on Thursday reported a leap in sales and profit for the nine months to December, upgrading its full-year profit forecast on strong demand for its popular Switch console.

Net profit for April-December rose 16.4 percent from a year earlier to JPY 196.4 billion ($1.8 billion), with sales for the period up 2.5 percent at JPY 1.0 trillion.

The Kyoto-based firm revised upward its full-year forecasts, now projecting a net profit at JPY 210 billion for the fiscal year to March, compared with its earlier estimate of JPY 180 billion. But it left its annual sales forecast unchanged at JPY 1.25 trillion.

Sales of both its regular Switch platform and the Switch Lite — a smaller, cheaper version — are growing steadily with powerful titles, including the Pokemon series, though analysts are weighing the possible impact of the new coronavirus outbreak on production in China.

“Nintendo Switch Lite launched in September… and Nintendo Switch performed well without losing momentum, resulting in significant sales growth for the entire Nintendo Switch family,” the company said in a statement.

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