Nintendo of Korea announced on the 8th that it is increasing the prices of its products and services.

Hardware prices will see a uniform increase starting Monday, May 25. The Nintendo Switch OLED model will rise from 415,000 won to 465,000 won, the standard model from 360,000 won to 410,000 won, and the Lite model from 249,800 won to 279,800 won.

The price of the Nintendo Switch 2 is scheduled to change in September, with specific details, including the exact date, to be announced later. The current price of the Nintendo Switch 2 is 648,000 won; based on the price hikes for existing consoles, a potential increase of around 50,000 won is expected, which could bring the price to 698,000 won.

The price of the subscription-based Nintendo Switch Online service will increase starting Wednesday, July 1. The individual 1-month plan will rise from 4,900 won to 5,900 won, and the 12-month plan from 19,900 won to 24,900 won. The 12-month Family Plan will change from 37,900 won to 47,900 won. The individual 12-month plan with the Expansion Pack will increase from 39,900 won to 49,900 won, and the 12-month Family Plan with the Expansion Pack will rise from 74,900 won to 84,900 won.

Regarding the background of the hardware price changes, Nintendo of Korea explained, "As a result of reviewing our future global business viability in response to various changes in the market environment, we have decided to adjust the suggested retail prices for the Nintendo Switch and Nintendo Switch 2 consoles in Korea."

Recently, the prices of components such as RAM, memory, and graphics cards have been rising sharply. Consequently, rumors have surfaced that Nintendo has been selling Nintendo Switch and Switch 2 hardware at a loss, and this price increase lends some credibility to those claims. Additionally, the increase in online service prices is analyzed to be due to rising global exchange rates.