Nintendo Profit Forecast Down 82 Percent
Posted on Thursday, July 28 @ 14:27:12 Eastern by Josh_LaddinBy now you've probably heard that the 3DS is getting a huge price cut, and previous owners will be getting free games to make up for it. But all of that good news to consumers doesn't have exactly the same ring to it for investors.
In their latest financial report in the wake of all the 3DS news, Nintendo's projected profits for the fiscal year fell from their original ¥110 billion to ¥20 billion (which, if you're wondering, still translates into a respectable $257 million). Things are obviously not going as well as the big N would have hoped, but with the PS Vita still looming at $249 or $299 with 3G, the now relatively budget-priced 3DS is looking to have a much stronger showing against its Sony competitor for the holiday season.
If 3DS sales start to pick up and they can drum up more investor confidence over the Wii U with more strong third-party support, Nintendo could easily bounce back during the next fiscal year. Only time will tell if they can pull that trick off, though.
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