Shares of Japanese gaming companies fell 7.2% as trailers for new consoles failed to impress.

Gaming giant Nintendo unveiled its much-anticipated follow-up to the Switch, but it disappointed some fans and sent the company’s stock price plummeting.

Shares of the Japanese gaming company fell 7.2% on Friday after a teaser video for the Switch 2 suggested the console would be largely similar to its popular predecessor.

The company recouped some of its losses in the afternoon, with shares down about 4.2% as of 4 p.m. local time.

“Nintendo is taking a cautious approach. Switch 2 looks bland at best and a completely bland remake at worst,” gaming YouTuber TwoQuickOnes said in a post on X.

While Nintendo’s trailer doesn’t offer technical specs, it shows off a device that looks and forms nearly identical to the original hybrid console.

The new console has a larger screen than the original Switch, and the controllers snap onto the device rather than sliding into place like before.

The two-minute trailer also reveals a new installment in the long-running Mario Kart series.

The Kyoto-based company said it will reveal more details about the console at its Nintendo Direct event on April 2.

Released in 2017, the Switch has sold more than 146 million units worldwide, making it the third most popular gaming console after Sony’s PlayStation 2 and Nintendo DS.

The explosive popularity of the Wii U console has helped restore steady profitability to Nintendo after years of poor sales.