LOS ANGELES — (AP) — Gaming giant Nintendo revealed its newest console Thursday in a highly anticipated announcement gamers had been waiting for since rumors of its release first spread years ago.

But the initial reaction to the Nintendo Switch 2 was lackluster, and the company's Tokyo-traded shares slumped 4.3% on Friday. Nintendo's shares had surged to a record ahead of the announcement.

The successor to the Nintendo Switch system will be released this year, the promotional video says.

In the video, Nintendo showcases a larger version of the Switch that looks similar to its predecessor. It also shows the system’s controllers, or Joy-Cons, will attach to the side of Switch 2's main unit rather than slide in.

The Nintendo Switch 2 will play Switch 2 exclusive games, as well as both physical and digital Nintendo Switch games. Some Nintendo Switch games may not be supported on or fully compatible with Nintendo Switch 2, the company said.

The announcement did not provide many details on the console. Nintendo says more information about the system will be available during the company’s April Nintendo Direct event. The Kyoto-based game developer said it will also host “Nintendo Switch 2 Experience” events in several countries, where players can get a hands-on experience with the new system.

Those events are planned for cities such as Los Angeles, New York, London and Paris beginning in April. Ticket registration for those events begins Friday, Nintendo said.

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