Nintendo says the Switch has broken its understanding of "a conventional hardware lifecycle"

gamesradar.com:

Nintendo has once again suggested that the Nintendo Switch is only around half-way through its console lifespan.

Five years into its life, the Switch is starting to show its age. While the impressive hybrid-handheld-that-could has amassed itself an enviable game library, it's still lagging way behind the hardware prowess of Sony and Microsoft's offerings. Despite this, Nintendo President Shuntaro Furukawa has revealed that the Switch won’t be replaced any time soon.

Speaking as part of a recent investor Q&A session, the Nintendo president stated that the aging console is now reaching the “mid-point of its lifecycle”:

“It is now the fifth year since the launch of Nintendo Switch, and the total hardware sell-through has exceeded 90 million units. We recognize that the system is at the mid-point of its lifecycle. The launch of Nintendo Switch – OLED Model has also been contributing to continued sales momentum and we are now offering consumers three Nintendo Switch models to match their play styles and lifestyles, as well as a wide range of software. With this, we believe a foundation for growth has been laid that exceeds what we previously considered to be a conventional hardware lifecycle.”

For the last few years, there have been multiple leaks stating that Nintendo is developing a more powerful iteration of the Nintendo Switch. Much like the Xbox One X and PS4 Pro, this rumoured “Nintendo Switch Pro” has been the focus of various stories in the last 12 months, with various game developers supposedly working on 4K  Switch games. Thanks to the global chip shortage caused by the pandemic, many have speculated that the Switch OLED was a last minute replacement for the more powerful Switch Pro.

You've still got plenty of time