Japanese gaming company’s stock price falls as much as 7 percent as teaser for new console fails to impress.

Nintendo shares have taken a tumble after the gaming giant’s hotly anticipated reveal of its follow-up to the Switch left some fans disappointed.

The Japanese gaming company’s stock price fell as much as 7.2 percent on Friday after a teaser video for the Switch 2 suggested the console would be broadly similar to its wildly popular predecessor.

The company recovered some of its losses in the afternoon, with its share price down about 4.2 percent as of 4pm local time.

“Nintendo played it safe. Switch 2 looks underwhelming at best and a completely unexcited rehash of the same old same old at worst,” gaming YouTuber TwoQuickOnes said in a post on X.

While Nintendo’s teaser did not provide technical specifications, it showed a device with a nearly identical appearance and form to the original hybrid console.

Compared with the original Switch, the new console has a larger screen and features controllers that snap on to the device instead of sliding into place as before.

The two-minute teaser also revealed a new instalment in the long-running Mario Kart series of games.

The Kyoto-based company said it would reveal more details about the console at a Nintendo Direct event on April 2.

The Switch, released in 2017, has sold more than 146 million units worldwide, making it the third most popular console ever after Sony’s PlayStation 2 and Nintendo’s DS.

The console’s explosive popularity helped restore Nintendo to steady profitability after years of weak sales of the poorly received Wii U console.