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FEATURED VOXPOP oblivion437     In all the talk of graphical downgrades no one seems much preoccupied with 'why?'.  Why build something and then proceed to tear it down, piece by piece, in the hope that ever more diminished expectations about the final product won't be severe enough to...

GAMING NEWS

Iwata Takes Pay Cut as Nintendo Profits Fall

Posted on Wednesday, January 29 @ 05:07:07 Eastern by Alex_Osborn


Nintendo's nine-month financials are in, revealing that both the company's revenues and profits took a considerable dip. Revenues are down 8.1 percent from last year at $4.8 billion, and profits dropped to $96.7 million, a 30 percent decline.

As such, Nintendo president and CEO Satoru Iwata has taken a 50 percent pay cut for the next five months. In addition, members of the board are taking 20 to 30 percent cuts in pay as well.

Sadly, just 2.41 million Wii U consoles have been sold since April 2013. Compared to the year prior, that's 3 million less consoles, which is all the more disheartening when considering the slowly growing library, price cut, and release of Super Mario 3D World.

Nintendo plans to hold an investor meeting tomorrow where we'll likely hear more on how it plans to remedy the company's current issues.

[AFP]
Tags:   Nintendo, WIi U, 3DS
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