More than four years after its release, the Nintendo Switch has finally seen a price cut

The news comes from Nintendo Life, which has learned that Nintendo has reduced the Switch's suggested retail price (MSRP) from €32999 to €26999 In US dollars, that's a price cut from $389 to $319

While a $70 price cut is not insignificant, the European price was already much higher than the Nintendo Switch's current US MSRP of $299 The UK price has fallen as well, from £27999 to £25999 and from $387 to $359

The price cuts are currently taking place in the Nintendo UK store At this time, the price of the Nintendo Switch Lite has not been reduced

Nintendo's last major best-selling console was the Wii, which was released in 2006 for $249; in 2011, the Wii was $149, $100 off its original price

For comparison, the PS4, one of the best-selling consoles of all time, saw its first price cut just two years into its life cycle, from $399 in 2013 to $349 in 2015 The following year, a slimmer model was introduced, bringing the MSRP down to $299

Needless to say, Nintendo is in no rush to cut the price of the Nintendo Switch At this point, the Switch has sold 89 million units, a staggering milestone for a system that has been on the market for only four years

However, NIntendo's profits related to the Switch are down in 2021 compared to the same point in 2020 Granted, the global pandemic has led many people to discover a new desire for gaming indoors

At this point, it is not known if Nintendo will lower the price of the Switch in the US, even if the OLED model of the Nintendo Switch goes on sale next month for $350

"It's customary for them to lower prices globally, so it's likely that the US will follow suit," Wedbush Securities analyst Michael Pachter said in an email inquiry with Tom's Guide

Considering that the Switch sold 288 million units in 2020, up 37% from 2019, suggests that Nintendo has little incentive to cut prices Note that these sales figures also include Switch Lite

The price cut could indicate that Nintendo wants to keep the units flowing in order to get somewhat closer to its 2020 sales numbers

"I thought the price staying at the launch price suggested strong demand, but it may be starting to soften a bit," Pachter said

At the moment, the Nintendo Switch OLED will retail for €36499 in Europe; the pricing structure between OLED, standard, and Lite switches will be €364, €269, and €239

This is an odd pricing scheme, especially considering that the panels on the OLED model are not much more expensive than the LCD screens on the other two models, since Samsung has a contract with Nintendo for hard OLED displays

However, Pachter feels that by next year, at least in the US, the Switch family could have a neat pricing structure of $300, $250, and $200