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Home News Nintendo Lowers Annual Profit Predictions By 70%

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.

[Via]
Tags:   Nintendo, Wii U, 3DS


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Comments
  • Chunibrow
    Chunibrow
    Joined: Mar 2010
    Posted: Oct 24th, 2012 at 9:28 am
    Took a page right out if my book: the lower you aim the less you're disappointed.
    0 2
  • wildmario
    wildmario
    Joined: Jan 2007
    Posted: Oct 24th, 2012 at 9:53 am
    Well at least they weren't arrogant like Sony who assumed everyone would buy a PS3 just because of brand name alone.
    0 2
  • xDUMPWEEDx
    xDUMPWEEDx
    Joined: Jan 2012
    Posted: Oct 24th, 2012 at 9:58 am
    The 3DS still needs more/better games. Sure ocarina of time and mario 3D land are great, but nintendo is pretty much ignoring the 3DS this whole fall/winter to focus on the wii u.
    0 2
  • ShadeTail
    ShadeTail
    Joined: Nov 2006
    Posted: Oct 24th, 2012 at 10:10 am
    Not surprising. There's still a global recession, so sales aren't going to be robust. And exchange rates are killing Japanese businesses with the Yen being so strong, so bringing their international profits home will hurt. They *do* have a pretty aggressive software release schedule this winter, though, so maybe that will help.
    0 3
  • Jonathan_Leack
    Jonathan_Leack
    Joined: Jan 2012
    Posted: Oct 24th, 2012 at 10:42 am
    I just traded my Vita for a 3DS. Nintendo should be fine, now.
    0 3
  • Chunibrow
    Chunibrow
    Joined: Mar 2010
    Posted: Oct 24th, 2012 at 11:36 am
    I wish I had something to trade for a 3ds
    0 2
  • OdiousLupous
    OdiousLupous
    Joined: Jul 2011
    Posted: Oct 24th, 2012 at 1:23 pm
    You can live with 1 kidney.
    0 4
  • Chunibrow
    Chunibrow
    Joined: Mar 2010
    Posted: Oct 24th, 2012 at 4:06 pm
    I know that's how I got my iPhone.
    0 2

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