A new Nintendo Switch maybe launched by September this year

Bloomberg says that Nintendo is going to release an updated Switch as early as September

The house of Mario has plans to release a new version of their super popular gaming console, The Nintendo Switch as soon as September, according to Bloomberg.

Sources told the publication that the new console will be priced higher than $299 (Rs. 21,713) and will be sold along side the Switch Lite, while the old model of the Switch will slowly be phased out.

The new Switch will have a 7-inch OLED display manufactured by Samsung and a faster Nvidia chip that will allow it to output up to a 4K resolution when docked and used with a 4K TV. Suppliers have also said that they expect the price to go up thanks to rising labor costs in China and pricier components.

Matthew Kanterman, an analyst told Bloomberg that, "An upgraded Switch can be extremely valuable in extending the lifecycle of the platform. Both Sony and Microsoft have had success with mid-cycle upgrades as a means to drive growth from live services and, as this becomes a greater driver for Nintendo, not fragmenting the user base across different platforms would be advantageous."

Shares for Nintendo rose to an all-time high ahead of Thursday due to reports that an imminent launch of new hardware was around the corner. Nintendo will likely make the announcement during E3, which will be held from June 12 to June 15 as a virtual, online only event.