Japanese gaming giant Nintendo released its full-year results on Wednesday and revealed the date of its next video game console, codenamed the NX.
Net sales for Nintendo fell 8.2 percent to 504 billion yen ($4.5 billion) for the year ending March 31, while profits fell 60 percent to 16 million yen.
The report teased that the NX will have a brand-new gaming concept and will be released around the world in March 2017. It will be launched alongside the latest instalment of the popular "Legend of Zelda" franchise which it also stated Wednesday would be delayed as more time was needed to "polish the game."
"As we report the results of the last fiscal year, we also look forward to an exciting period ahead with further growth in our mobile business [and] new products for our dedicated video game systems," said Nintendo President Tatsumi Kimishima in a press release.
By launching in March, the NX will debut outside of the Christmas period, which is highly lucrative to video games sector. Competitors Sony and Microsoft both launched their latest consoles in November 2013 in time for the holiday season.
However, Steve Bailey, senior games analyst at IHS Technology, told CNBC that this was the right decision.
"Nintendo will have learned an important lesson with the launch of the Wii U – there's no point in attempting to bring innovative hardware to market, if the accompanying software and messaging fail to convince," he told CNBC via email.
"The decision to skip Christmas 2016 won't have been taken lightly, but it would be a mistake for Nintendo to launch this year if it doesn't have compelling games and marketing that clearly chimes with the goals of the NX itself."
Nintendo also revealed that it would release two new mobile gaming apps based on the established "Fire Emblem" and "Animal Crossing" franchise. Until earlier this year, Nintendo had shunned mobile gaming in favor of handheld console gaming through the Nintendo 3DS.
"It's taken the company so long to move into mobile because it's traditionally found a sufficient audience within the walls of its own hardware," Bailey explained.
"But now, the consumption landscape has changed, and all three console manufacturers are having to respond to the fact that even their most ardent fans may also be heavy mobile users. So why not explore ways to keep your audiences engaged through other device groups?," he added.