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Nintendo just posted their first annual losses ever, at about half a billion dollars
In its long history, Nintendo has never posted an annual profit loss as a public company. Until this year, when a combination of poor Wii sales, a strong Japanese yen and a rather rocky 3DS launch caused the game company to suffer a half billion dollar loss. Yes, Nintendo is fallible after all.
“What went wrong was that sales of the 3DS didn’t take off as we expected,” Nintendo President Satoru Iwata said. “The stronger yen against the euro was also another reason.”
The Nintendo 3DS is being sold below cost due to a large pricecut. However, Nintendo stated that the 3DS will cease to be sold below cost sometime later this financial year, making the handheld even more profitable for the Kyoto-based game company. Nintendo is also forecasting a profitable April 1, 2012- March 31, 2013 (aka their 2013 fiscal year), thanks to strong 3DS sales and the upcoming Wii U.
The game maker is predicting an operating profit of $429 million for the year starting April 1, 2012.
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over and over and over again for...limited audience isn’t a valid business plan? Who’da...
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