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FEATURED VOXPOP oblivion437
I Don't Want to, but I Have To...
By oblivion437
Posted on 10/20/14
Well, Gamergate has spilled over into the mainstream media and the coverage appears to be nearly uniformly dreadful. Take " What is Gamergate, and What Does It Say About Gender In Video Games? " by David Konnow as an example.  It appears that the writer has done little to no...

GAMING NEWS

Nintendo Lowers Annual Profit Predictions By 70%

Posted on Wednesday, October 24 @ 08:35:27 Eastern by Alex_Osborn
Unfortunately for the Big N, the 3DS hasn't proven to be the big runaway success that they expected it to be worldwide. However, that's not to say that the handheld hasn't been selling well—Nintendo just aimed the bar a bit too high, and by that I mean a good 70% too high.

The company has had to cut its annual profit projections a substantial 70%, after suffering first-half losses of $351 million. They originally expected to suffer ¥20 billion over the first six months, but ended up having to swallow another ¥8 billion. Naturally the company is blaming it on the increased value of the yen, as well as under-performace of the 3DS overseas.

For the fiscal year ending March 2013, the company now projects net profits of ¥6 billion ($75.2 million), which is down from their initial expectations of ¥20 billion ($251 million). Of course, Nintendo is expecting big things from the Wii U, with an expected 5.5 million units sold globally by the end of the fiscal year.

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Tags:   Nintendo, Wii U, 3DS
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