With smartphones and virtual reality making the gaming industry more competitive, Nintendo Co. on Friday unveiled Switch — its newest game system which can double as a stationary console and handheld device.

The product will make its commercial debut on March 3 in Japan, the United States, Canada, Australia, Hong Kong and some nations in Europe. It will be priced at ¥29,980 or $299.99 in the U.S.

With a teaser video released last October, fans were eager to hear more details. Observers are also watching whether the Switch, the first home console since the 2012 Wii U, which struggled with sluggish sales, can put the Kyoto-based game giant on a new growth path.