Nintendo orders 16 million Switch production contract

Nintendo has put in a supply order for 16 million Switch consoles to be manufactured and shipped throughout 2017 and beyond.

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Like most new Nintendo systems, its new handheld-console Switch hybrid is in extreme demand with supply pretty much nonexistent. In order to keep up with the demand, Nintendo has doubled its Switch production for this year and next, according to reports from Wall Street Journal's Takashi Mochizuki.

As soon as Nintendo's next fiscal year (FY 2018) begins on April 1, 2017, the manufacturing of 16 million new Switch consoles will begin. This massive influx of units will be shipped across the company's full FY2018 timeline that's held from April 1, 2017 through March 31, 2018.

"In the fiscal year starting April 2017, assemblers under contract with Nintendo are now planning to manufacture 16 million or more Switches, up from an initial plan for eight million, said people briefed on the plans. Even after accounting for inventory, that suggests Nintendo believes it can sell significantly more than 10 million units during the 12-month period, they said, beating expectations of many analysts," Mochizuki reports.

Read Also: Nintendo Switch Review

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Nintendo is very close to meeting its initial goal of 2 million Switch units sold within the first month.

An estimated 1.5 million Switch consoles have been sold globally in the system's first week of availability, and the Switch will have four full weeks to accrue sales until the cut-off date on March 31.

Nintendo's shares have been on the rise since the Switch released on March 3, and this new announcement will likely trigger a new boost to the company's stock price.

The Japanese console-maker has yet to officially confirm this report, and we'll likely see Nintendo President Tatsumi Kimishima make a statement during the FY 2018 shareholders meeting.