Hong Kong (CNN Business) When it was first released, Nintendo's Switch console was so popular that the company struggled to ship enough devices to meet the huge demand.

The Japanese gaming giant now has a different problem.

Nintendo NTDOF shares plunged more than 9% in Tokyo on Friday after it slashed its target for annual Switch sales from 20 million to 17 million.

Blockbuster sales of the Switch, a hybrid gaming console that allows users to to play it on the go and at home, have helped drive up Nintendo's profits and stock price. That was highlighted by the 25% rise in profit the company reported Thursday for the quarter ended in December.

But the cut in the forecast for Switch sales suggests the device may not have the massive appeal that Nintendo was banking on.

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