Nintendo, the Japanese video game maker behind the Super Mario franchise, says its profit fell 60% in the first half of the fiscal year, as demand waned for its Switch console, now in its eighth year since going on sale.

Investors are waiting for news surrounding a successor to the Switch which they hope will re-energize Nintendo’s gaming business.

Nintendo cut on Tuesday its operating profit forecast for the year to March 2025 by 10% to 360 billion yen ($2.36 billion), as its ageing Switch console loses steam. The latest forecast is below analyst estimates of a 391.