Nintendo Switch 2 Becomes Second Fastest-Selling Console in US History While PlayStation and Xbox Hit Record Lows

Switch 2 sold 5.9 million units in its first 12 months on the US market, making it the second fastest-selling console in American history. Only Nintendo's own Game Boy Advance outsold it over a comparable window — moving 6.5 million units in the 12 months after its 2001 launch. The data comes from Circana's May 2026 report, which also named Switch 2 the best-selling console in the US for the month of May, ahead of PlayStation 5.

That single performance point is carrying the entire hardware market. Year-on-year hardware spending rose by more than a third — almost entirely because of Switch 2. Strip it out, and the picture changes fast.

PlayStation 5 sales dropped 58 percent year-on-year in May, driven by recent price increases, and fell to their lowest May total since 2000. Xbox sales declined 12 percent, a smaller drop on paper, but the actual number of units sold was the lowest ever recorded for a May month in Xbox hardware history. Both figures land against a backdrop of rising prices across the board.

The average price paid for new video game hardware in May 2026 reached $502, up from $440 the same month last year. PS5 pricing rose 33 percent to $672. Xbox Series X/S pricing climbed 22 percent to $524. Console hardware has not seen mid-generation price increases like this at any point in the industry's history.

Here is where each major platform now stands on price, following increases announced this year:

• Nintendo Switch 2: rises from $449.99 to $499.99 in the US from September 1. The company said the increases reflect "changes in market conditions" and its "global business outlook." "We sincerely apologise for the impact these price revisions may have on our customers and other stakeholders, and we deeply appreciate your understanding."
• PlayStation 5: base price rose approximately £90 in the UK after Sony announced significant increases in March.
• Xbox Series X/S: Microsoft raised prices again in late June, pushing the average unit price to $524.

The pressure comes from one source. Component costs are rising because AI data centre demand has consumed the global supply of RAM and related hardware. Microsoft said it expects component pricing to roughly double again by autumn 2027. That timeline points toward more increases before any next-generation hardware arrives — if any company launches next-gen hardware at all under these conditions.

Valve already tested that ceiling. Its Steam Machine launched at a base price of $1,000, and Valve itself acknowledged the price came in significantly higher than the company had planned when designing the product. The market's response has been cautious.

The question running through the rest of 2026 is whether GTA VI on Switch 2 happens at all. Rockstar Games has not announced a Switch 2 release — the November 19 launch is confirmed only for PlayStation 5 and Xbox Series X/S — but insider Nash Weedle, who has a track record on Nintendo-related leaks, reported that a port is in active development. According to Weedle, Rockstar has addressed some technical hurdles and brought in Switch 2 port specialists as a subcontractor. He still believes a 2026 release is unlikely. No official confirmation exists.

On a different timeline, 007 First Light on Switch 2 is closer. IO Interactive's James Bond game launched on PC, PlayStation 5, and Xbox Series X/S on May 27, but the Switch 2 version was held back. Senior licensing producer Theuns Smit told Pocket Tactics the team is making strong progress on optimisation and the work is moving fast.

"We want to make sure that we give it its time in optimisation and performance, that it reaches the quality that not only we desire, but that we feel our players deserve."

— Theuns Smit

The game sold 2.7 million copies in its first week and has since passed 3 million. IO has not committed to a release date for the Switch 2 build, but the "later this summer" window set in April has not changed.

I see two very different situations here. 007 First Light on Switch 2 has a studio that is communicating steadily, taking its time on performance, and has the sales momentum to justify the port. GTA VI on Switch 2 is still rumour, dependent on a developer that has said nothing publicly about it. Both will matter for the platform, but one of them is actually coming. Probably soon.

The broader hardware situation depends heavily on whether GTA 6 drives console purchases when it releases in November. One major retailer has already flagged a potential supply shortage during the holiday season if demand spikes. Given that average console prices are now 14 percent higher than a year ago — and set to climb further — that scenario carries more risk than it would have in any previous console cycle.