Last week, several sources said that a Nintendo Switch price cut is on the way. Today, the price cut has become official. The 2019 Nintendo Switch model will be permanently discounted to less than 300 Euros in Spain. The new price adopted by retailers is €269.99 from €329.99 in Europe and £259.99 from £279.99 in the UK. Nintendo said that the permanent price cut was due to a variety of factors including the imminent launch of the new OLED model that was announced earlier this year. The Nintendo Switch OLED model is set to release on October 8, 2021.

In a statement to VGC, Nintendo confirmed the earlier reports saying “Nintendo of Europe is changing the European trade price of the Nintendo Switch console to retailers. 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 Nintendo Switch – OLED Model, we decided that now was the appropriate time to change the European trade price of Nintendo Switch.”

The Nintendo Switch – OLED model features a number of key differences from its original predecessor, the most notable being the new screen. The OLED model features a 7-inch OLED display, a more widely adjustable kickstand for play in tabletop mode, enhanced audio, 64 GB of internal storage, and a built-in wired-LAN port.

“The trade prices of Nintendo Switch Lite and the upcoming Nintendo Switch – OLED Model are not affected. The final price to consumers is determined by retailers. As a guide, we recommend that consumers check with local retailers to find out their prices,” Nintendo said. “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.”