10 September 2019
UPDATE (April 25th, 2019):
Nintendo has officially denied that it has plans for launching any kind of new Nintendo Switch console at this year's E3 event. The clarification was provided by Nintendo CEO Shuntaro Furukawa during the company's earnings call. In the statement, he said:
“As a general rule, we’re always working on new hardware and we will announce it when we are able to sell it, but we have no plans to announce that at this year’s E3 in June.”
Even though an E3 launch in June has been denied, we can still see a new gaming console from Nintendo some other time of the year. If that happens, we will make sure to keep you updated.
Original (April 25th, 2019)
A new and cheaper Nintendo Switch variant is expected to get released as soon as June 2019. The speculated timeline has been mentioned in a Bloomberg report citing two anonymous sources. To be slightly more specific, the launch is reported to happen sometime around late June 2019 which is quite closer to E3 2019.
The report does not mention anything about the changes Nintendo could include to make Switch cheaper. There have been rumors that we might get to see a smaller display on this new variant. It is further expected to become available without dock support and thus emphasizing more in the portability aspect.
Nintendo actually has plans for releasing two Switch models this year. While one will be the cheaper variant, another will be an improved version of the currently available Switch. A previous report claimed it to be more powerful but the Bloomberg report paints a contrasting picture. It is referring to this second version as a "modest upgrade" which means there will not be any significantly noteworthy upgrades.
Since the reported new Nintendo Switch launch is only about a couple of months away, we should be hearing more reports and leaks in the meantime. Stay tuned for any further developments until the official unveiling.