Nintendo hikes Switch prices up to 13% citing 'chipflation'

In a move that will surely disappoint gamers across the nation, Nintendo has announced a significant price increase for its popular Switch consoles. Citing the global rise in semiconductor prices, a trend colloquially termed 'chipflation,' the company will be hiking prices on all models, including the OLED, standard, and Lite versions. This decision, which takes effect later this month, reflects the growing financial pressures faced by console manufacturers in the current economic climate.

This price adjustment by Nintendo comes on the heels of a similar move by Sony, which recently increased the price of its PlayStation 5. The gaming industry appears to be grappling with the escalating costs of components, forcing companies to pass on these expenses to consumers. While the new 'Nintendo Switch 2' and its accompanying games have seen considerable success, contributing to a substantial increase in Nintendo's financial performance, the company is still opting to raise prices on its existing hardware.

Gamers in Korea will see the price of the Nintendo Switch OLED model rise by approximately 12%, from 415,000 won to 465,000 won. The standard Nintendo Switch will see a roughly 13% increase, from 360,000 won to 410,000 won, and the Nintendo Switch Lite will go up by about 12%, from 249,800 won to 279,800 won. Furthermore, the online subscription service for the 'Nintendo Switch 2' will also see a price increase starting July 1. This series of price hikes is likely to be met with frustration from consumers who were already anticipating the release of new hardware.