Nintendo Drops Profit Forecast by 82%
- Scribbled on July 28th, 2011 by Jonah Falcon
- Filed in Industry News, Nintendo DS, Nintendo Wii, Nintendo Wii-U
Things are looking truly bleak for Nintendo, as the company has revised its forecast earnings for the fiscal year ending March 2012 by 82% less.
According to Joystiq:
…The company dropped its estimated profit to ¥20 billion ($257M), an 82 percent drop from the ¥110 billion ($1.41B) it expected. The company stated the modification had been done to reflect “trends of stronger-than-expected yen appreciation and sales performance, the decided price reduction of the Nintendo 3DS hardware, and the sales outlook for the holiday season.” Nintendo plans to reduce the 3DS from ¥25,000 to ¥15,000 (approx. $317 to $190) in Japan this August.
A similar cut in Japan (effective August 11) will take the system from ¥25,000 (around $317) to ¥15,000 ($190).
Today’s announcement of the Nintendo 3DS having its price cut from $249.99 to $169.99 a mere five months after release is one of the steps Nintendo is taking to try to raise their estimated earnings.
The Wii U will not be released until Holiday 2013, though this might change.
August 3rd, 2011 at 7:34 pm
[...] Nintendo in deep financial trouble [...]