San Francisco, Aug 1 (IANS): Japanese gaming giant Nintendo will reportedly launch its next-generation console in the second half of next year.

The company will make sure that it has ample stock available on day one to prevent the kind of shortages faced by PlayStation 5 and Xbox Series X/S, reports VGC, citing sources.

Even though the specifics of the device are being highly guarded, some people hinted that it would be possible to utilise the next-gen console in the portable mode, similar to the Nintendo Switch.

According to other two sources, the new Nintendo console could launch with an LCD screen, instead of the more premium OLED, to reduce costs.

Like its predecessor, the upcoming console will also accept physical games via a cartridge slot, the sources said.

It is still unclear whether the new product would come with backwards compatibility support for Switch games (physical and digital).

According to Tokyo-based industry consultant Serkan Toto, a new console launch in 2024 would make sense for Nintendo, given that sales of its Switch hardware and software are expected to decrease by double digits this year.

“I would generally say that looking at Nintendo’s financials, it seems clear that it’s time for a new piece of hardware in 2024,” Toto said.

“Hardware is already projected to fall 16.5 per cent year-on-year in the current fiscal, while the minus for software is expected to hit 15.9 per cent," he added.

He further mentioned that "the only way to stop these losses from totally ballooning next fiscal is a new device, and the second half of 2024 sounds like a realistic release window to me."