Nintendo shares slump after Switch sales projection cut

TOKYO (Reuters) - Shares in Nintendo Co Ltd were down 6.5% in early trade on Wednesday after the Japanese videogame giant cut its annual sales projection for its Switch console by nearly 10% citing the lingering shortage of chips.

The Kyoto-based company on Tuesday raised its annual net profit forecast thanks to a weaker yen but missed analysts' bullish forecasts.

(Reporting by Kantaro Komiya; Editing by Chang-Ran Kim)