Nintendo profits take a nosedive, lowers forecasted annual earnings
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Nintendo announced the half yearly earnings ending September and it’s not what the Kyoto-based company is used to see. They reported a 69.49 billion yen ($772 million), 52 percent down from what they’d reported a year earlier. Nintendo also for the first time in six years, lowered its forecast annual earnings from 1.8 trillion yen to 1.5 trillion yen.
Although we’ve been seeing a slump in demand of Nintendo’s consoles, Nintendo blames the Wii price cut as one of the major reasons for the profit drop.
Overall, Nintendo sold about 5.75 million Wii units and 11.7 million DS handhelds between April-September. For the same period last year, Wii had recorded a sales of more than 10 million units and DS handhelds around 13.7 million units.
[Via Yahoo]
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Dec 3rd, 2009 at 3:06 pm
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