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Image: Nintendo

In a two-tweet salvo this morning, Nintendo denied that the new Switch OLED model will increase the company's hardware profit margins and that a better Switch is waiting in the wings.

Why it matters: Nintendo is trying to counter criticism that its new Switch has been priced too high and that it is a skippable half-step.

Driving the news: Last week, Bloomberg reported that the new $350 Switch would cost roughly $10 more to make than the current hot-selling $300 model.

  • The outlet previously (and accurately) reported that a new Switch with an OLED screen was being made for the fall, but incorrectly reported that the device would be more powerful.
  • In its recent price story, Bloomberg cited experts familiar with the cost of the new machine’s better screen and enhanced storage.
  • But Nintendo tweeted today that reports of increased profit margins for the new unit were wrong. "To ensure correct understanding among our investors and customers, we want to make clear that the claim is incorrect."

Nintendo also tried to cool expectations that it will release a more powerful Switch in the future, tweeting that it has "no plans for launching any other model at this time."

  • That may not mean much. In February, Nintendo CEO Shuntaro Furukawa told investors "we do not have plans to announce a new model" of the Switch. Five months later, it announced the OLED Switch.

Personal aside: On Friday, Axios Gaming pre-ordered the OLED Switch from Walmart.

  • On Saturday, the retailer sent a follow-up email to note it was cutting the cost by $50, to $300.
  • It cited "preorder competitive price match."

Go deeper

Nintendo dates “Mario” movie for 2022, casts Chris Pratt as Mario

Image: Nintendo

Nintendo interrupted one of its semiannual Nintendo Direct gaming showcases today to tease plans for its upcoming animated Super Mario movie.

Why it matters: Nintendo’s movie hype, just like its recently opened theme park in Tokyo, is part of its expansion beyond gaming.

Justice Department asks Supreme Court to block Texas abortion ban

Abortion rights activists rally at the Texas State Capitol on Sept. 11, 2021, in Austin, Texas. Photo: Jordan Vonderhaar/Getty Images

The Justice Department on Monday asked the Supreme Court to temporarily block Texas' near-total ban on abortions while federal courts consider its constitutionality.

The big picture: The court last month allowed the ban to take effect, rejecting an emergency application by abortion-rights groups. The law bars the procedure after cardiac activity is detected, as early as six weeks into pregnancy.

Updated 50 mins ago - Health

This arthritis drug cost $198 in 2008. Now it's more than $10,000

Illustration: Aïda Amer/Axios

In 2008, a box of 30 anti-inflammatory rectal suppositories that treats arthritis, called Indocin, had a price tag of $198. As of Oct. 1, the price of that same box was 52 times higher, totaling $10,350.

Why it matters: As federal lawmakers continue to waver on drug price reforms, Indocin is another example of how nothing prevents drug companies from hiking prices at will and selling them within a broken supply chain.