Nintendo Shares Plummet 18 Percent In Response To Expected Losses
Posted on Monday, January 20 @ 07:02:29 PST by Alex_Osborn
Following last week's news that Nintendo has had to revise its Wii U sales forecast from 9 million all the way down to 2.8 million and its 3DS projections from 18 million to 13.5 million for the 2013 fiscal year, company shares have taken a massive hit, dropping 18.43 percent.
By the end of the financial year, which ends March 31st, Nintendo is anticipating an operating loss of 35 billion yen (approximately $335 million). That's not good and Tokyo investors have responded accordingly.
Nintendo president Satoru Iwata has made it clear he has no intention of resigning, and is looking to change up the way Nintendo does business in the future, going so far as to look to smart devices as a potential avenue.
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