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FEATURED VOXPOP oblivion437 Update: I was unfortunately not aware of Shamus Young's severe criticism of Fallout 3 available here to link in the original piece and I regret that.  It dovetails rather nicely with what I've written and it's much better executed than my piece.  I strongly recommend anyone...

GAMING NEWS

Nintendo Lowers Annual Profit Predictions By 70%

Posted on Wednesday, October 24 @ 08:35:27 PST 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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