TOKYO (Reuters) - stocks in Japan’s Nintendo Co (7974.T) rose more than 4% on Thursday after the enterprise stated it'd quickly release Nintendo switch Lite, a inexpensive, hand held version of its hugely popular switch games.

The Kyoto-based totally organisation said the new tool could release on Sept. 20 at a cautioned retail fee of nineteen,980 yen, or $199.Ninety nine, in comparison with $299 for the Nintendo switch.

Nintendo shares had risen on media reviews earlier this year of a low-price model of the transfer console, most effective to be battered after management appeared to hose down such speculation during the last few months.

In mid-morning alternate, Nintendo’s stocks were up 3.6%, while the benchmark Nikkei common .N225 turned into flat.

“A lower-priced model have to stimulate call for,” Jefferies analyst Atul Goyal wrote in a notice to clients.

He said the brand new tool without delay targets the 75 million proprietors of Nintendo’s 3DS handheld tool, and that “this lower-priced model have to add gasoline to fireplace as this rate-factor immediately objectives the ones” owners.