Nintendo is throwing some cold water on Switch 2 sales estimates even though launch demand seems to be off the charts.

Based on how hard it's been to lock down a Nintendo Switch 2 preorder, just about anyone could predict a big launch for the hotly anticipated new game console. In its latest earnings report, Nintendo itself predicted a giant first year for the Switch 2.

Nintendo Co. projected weaker-than-expected initial sales of the Switch 2, a reflection of how uncertainty around US tariffs is weighing even on a company fielding record-setting demand.