Macronix (旺宏) disclosed in their Q1 earnings call that the company is still not shipping any Switch 2 Game Cards, and admitted that the ROM business revenues won’t recover until they do (image below). It’s unclear whether Macronix or Megachips (メガチップス; they are partners for the Game Card business) is responsible for getting their card controller IC certified by Nintendo—an abject failure that they’re still unable 11 months post the Switch 2 launch.
At the moment Macronix is making money hand over fist from the memory crunch so they don’t care (image below), and Megachips has been buying back shares to prop up their stock price. I’m curious what the latter will say on their next earnings call on May 14.
[Originally posted on 2026-04-28 Pacific Time]
