The Nintendo Switch OLED Model won't deliver greater profit margins for Nintendo, according to a tweet from the Japanese company.

Last week it was reported that the Switch OLED Model would retail for $349 despite only costing $10 more to manufacture than the original Switch, which currently sells for $299. 

Those numbers would've allowed Nintendo to boost its profit margins if consumers rallied behind the upgraded console. Taking to Twitter earlier this morning, however, Nintendo said it wanted to make it clear to investors and customers that those figures are incorrect. 

"A news report on July 15, 2021 claimed that the profit margin of the Nintendo Switch (OLED Model) would increase compared to the Nintendo Switch. To ensure correct understanding among our investors and customers, we want to make clear that the claim is incorrect," wrote the company. 

"We also want to clarify that we just announced that Nintendo Switch (OLED Model) will launch in October, 2021, and have no plans for launching any other model at this time."

The revamped Switch OLED Model was unveiled at the start of the month and features a larger 7-inch screen alongside a wider kickstand and a new dock with a built-in LAN port. The upgraded device is due to release on October 8, 2021, and will sit alongside the original Switch and the handheld-only Switch Lite.