More than likely it is just one of the many items that Nintendo put their name on. Not worth much if I had to gander a guess.
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There seemed to be many items of this nature at the time. I remember a N64 branded set of headphones I used to have.
So strange looking back, they even made multiple models for something not even related to the system at all. Odd!
My guess is that whatever electronics company just licensed the name and logo for general product use.
Pokemon Snap related maybe?