It was only immediately after the release of the original Nintendo Switch that rumors began flying around about the successor console, but now we have confirmation on when Nintendo began work on that console.

In new court documents between Nintendo and accessory company Genki, it's stated there were only two years between the release of the original Nintendo Switch and work beginning on the successor console, which is now officially called the Nintendo Switch 2. The documents state that Nintendo began planning the Nintendo Switch 2 shortly after the release of the original Switch, with "formal hardware development beginning around 2019."
The Nintendo Switch 2 wouldn't be officially announced by Nintendo until January 2025, marking six years of silent development on the console, which provides significant performance improvements compared to the original Switch. While Nintendo didn't officially recognize the Switch 2 in any capacity, throughout that time, numerous rumors swirled about its performance capabilities, display size, functionality, etc.
Now, the Switch 2 has received an official release date for June 5 and has been priced at $449.99 for the console, or $499.999 for the bundle, which comes with a copy of the new Mario Kart game, Mario Kart World.
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