Japan's Nintendo said on Thursday it will release the Switch 2 console this year, unveiling a device that appears to closely follow the form and functionality established by its popular predecessor. The Kyoto-based gaming company did not release pricing for the new device and said it would provide more details at a Nintendo Direct event on April 2.

The Japanese videogame maker’s shares fell after it said the much-anticipated successor to its Switch console would go on sale later this year, disappointing investors with a lack of specifics and a design that feels more like an update than a reinvention.