Nintendo said yesterday it would make its first annual net loss this financial year, cutting earnings guidance for a second time as the soaring yen and weak software sales dealt fresh blows to the former games industry champion.
Nintendo dominated the industry for years with its DS players and Wii consoles, but is now struggling to keep up with gadgets like Apple’s smartphones and tablets.
This year’s failed launch of its 3DS hand-held games machine forced Nintendo to slash prices, crushing its profit outlook for the year. Nintendo expects an annual net loss of 20 billion yen, its first such loss and also slashed operating profit forecast to 1 billion yen from 35 billion yen. – (Reuters)
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