The president of Nintendo has given the first official update on how much the upcoming Switch 2 console will cost. An exact price has not yet been confirmed by Nintendo but in the past few months, there have been a few different rumours that the console will cost around $400.

Following the release of its financial results on Tuesday, Nintendo president Shuntaro Furukawa answered a series of questions from investors. Among those questions was one about the future of software on the Switch after the Switch 2 arrives. You can read Furukawa’s answer below (as translated by Nintendo Everything ):

Nintendo's president Shuntaro Furukawa has surprisingly confirmed a rumour that was flying around about the Switch 2 console. Dataminers have been tracking down shipping information from one of Nintendo's manufacturing partners over the past year or so,