The Nintendo Switch Lite ($200) is a smaller, lighter, cheaper and handheld-only version of the original Nintendo Switch. It costs $200, which is $100 less than the Switch, and it’s available right now.
If you already have a Nintendo Switch, then the arrival of the Nintendo Switch Lite probably won’t make you feel too jealous. The two consoles play (mostly) the same games, have the same graphics and resolution (720p), and are compatible with each other — if you have a Nintendo Switch and your friend has a Nintendo Switch Lite, you can sync the two consoles and compete with or against each other. Neither of the two consoles supports Bluetooth audio, so you still won’t be able to use wireless headphones with the Switch Lite (unless you buy a Bluetooth receiver).
If you buy the Nintendo Switch Lite, there are some definite tradeoffs. The new console can’t connect to your TV, so you won’t be able to play games on a bigger screen. Because the Nintendo Switch Lite is smaller than the original console (5.5-inch display vs the 6.2-inch of the Switch), it also won’t work with or charge in the TV dock — in case your friend has one.
The other big difference is that the Joy-Con controllers are built right into the Nintendo Switch Lite. This means that there’s really no way of playing multiplayer games with a friend if the two of you don’t have a Switch or Switch Lite; with the detachable controllers of the original Switch, you could just hand a controller to a friend and play on the same console.
Since the controllers are built into the Nintendo Switch Lite, this creates an issue for some games. For example, Pokémon Let’s Go and even The Legend of Zelda: Breath of the Wild rely on the motion sensors in the detachable controllers to perform various maneuvers, like throwing a Pokéball or a boomerang. This means that some games will be slightly different experiences on the Switch Lite and the Switch. Also, for this reason, there will be some future Switch games that rely on using the detachable Joy-Con controllers that won’t be playable on the Switch Lite.