Toyo Securities analyst Hideki Yasuda believes that a cheaper version of the Nintendo Switch 2, sold only in Japan, costs the company about 25,000 yen (approximately $160) per console.
In the country, the device was released in two versions: a model with only the Japanese language for ~$330 and a multilingual version without regional lock for ~$450, available in the My Nintendo Store. According to the analyst, it is the more affordable version that is most in demand among Japanese buyers.
Yasuda analyzed Nintendo's financial report for the third quarter of the fiscal year ending in March 2026. The company showed revenue growth of 99.3% and operating profit growth of 21.3% year-on-year. But the profit margin is growing slower than sales, which he attributes to high sales of Switch 2 in Japan.
Since its launch in the country, 4.78 million consoles have been sold. According to Yasuda's estimate, the production of one Switch 2 costs approximately $400. About $300 is for semiconductors, including Nvidia GPU and memory, and more than $80 is for the battery and case.
With a wholesale price of about 41,000 yen, this means a loss of about 25,000 yen per console.
