Nintendo has recently confirmed that the rumors regarding a Nintendo Switch price drop are untrue. In fact, there are no plans for Nintendo to lower the price of the Nintendo Switch in the United States. They shared a statement that was posted by Stephen Totilo on Twitter which reads:
Would’ve edited this one some time ago, but people were having too good a time.
Apologies for my clumsy attempt to note that the Switch dropped price in £s and €s, which in retrospect was not necessary and poorly conveyed.
Back to Watch Dogs Legion for further study
— Stephen Totilo (@stephentotilo) September 15, 2021
The rumors started hitting the gaming community after it was found out that the price of the Switch was slashed by up to £20 in the United Kingdom and €30 in Europe. The price of the consoles is now £259 and €299 in UK and Europe respectively. This measure was taken ahead of the Switch OLED model's introduction on October 8, 2021.
While talking to Eurogamer, a Nintendo spokesperson talked about the price cut. The spokesperson said the following:
More than four and a half years after its first release, Nintendo Switch continues to have strong sales momentum in Europe. After carefully weighing up a variety of factors, including currency exchange rates in Europe and the upcoming launch of the OLED Model, we decided that now was the appropriate time to change the European trade price of Nintendo Switch.
The trade prices of Nintendo Switch Lite and the upcoming Nintendo Switch - OLED Model are not affected. [...] We made the price change before the launch of Nintendo Switch - OLED Model so that the price differences between each model in Nintendo's own retail channel, My Nintendo Store, would be what Nintendo judges to be appropriate for its own store.
With this in mind, rumors about a Switch price drop across the NA region began to spread. However, just as it was shown above, the price drops only apply to the European region and the United Kingdom. The Switch will not have a price drop in the US or North American regions.
Nintendo has also come up recently to mention that there are no plans to launch any other new Switch model and has stated that recent reports on the Switch OLED profit margin are not correct. You can read more about it here.