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Niko Partners, a big China market intelligence, has great ties in the gaming world including: Activsion Blizzard, Google, Nvidia, Sony, Take Two Interactive, Tencent, Unity, and Nintendo. And they are predicting an NG announcement this 2024 from Nintendo.

https://www.vgchartz.com/article/459507/analyst-predicts-switch-successor-to-be-announced-in-2024-ps5-pro-to-release-this-year/

Based on this if Nintendo announces the NG this year, then it should be releasing in 2025.
I want to predict March 2025, that way they can have the immediate die-hard fans at the beginning, have the word of mouth hype throughout the year, and the 2025 Holiday season build up for games. 3D Mario, Mario Kart 9, Pokémon, COD, and even some bigger 3rd party developers.

So no, Nintendo does not need to release their successor in 2024.



Lifetime Sales Predictions 

Switch: 160 million (was 120 million, then 140 million, then 150 million)

PS5: 130 million (was 124 million)

Xbox Series X/S: 54 million (was 60 million, then 57 million)

"The way to accomplish great things, is to be indefatigable and never rest till the thing is accomplished." - Joseph Smith Jr.