Nintendo is increasing the price of its latest Switch console as it prepares to hit the market in October.
The move, which is a departure from traditional industry norms, is expected to boost the company’s profit margins.
In the past, console makers — like Sony and Microsoft — have tried to increase sales by reducing prices.
Nintendo’s net sales reached $15.9 billion for the year ending March 31, a 34.4% increase year-over-year. The Switch accounted for $15 billion, or 98%, of those sales.
The company hopes to ride the wave of that success by increasing the price of the new model to $350 — a jump from its $300 standard model.
The Switch was released in 2017 and lifetime sales have reached more than 84 million units. It has been the top-selling video game console in each of the past two years.
Nintendo generated $3.2 billion in revenue in its fiscal Q4 with the help of 4.73 million Switch units sold during the quarter. The company expects to sell another 25.5 million by March 2022.
