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Nintendo forecasts first annual loss ever

Posted on Friday, October 28th, 2011 in Uncategorized by Nick

Gaming giant Nintendo experienced a loss of  $923 million dollars for the first six months of this fiscal year. The big story is that for the first time ever, Nintendo is forecasting post a loss of $264 million for this financial year, which ends March 2012.

Nintendo said that sales of software titles for the 3DS may total 50 million units this fiscal year, down 29 percent from the company’s previous estimate of 70 million. The 3DS itself is has struggled to gain traction since its launch in March, leading Nintendo to cut its price in August from $249.99 to $169.99.

It wasn’t too long ago that Nintendo was rolling in dough with huge sales of the Wii and DS. In fact in 2007, 2 million Wii units where sold in the month of November. The DS also sold 1.57 units at the same time. The Wii outsold Sony’s PlayStation 3 by a ratio of over 6 to 1 in June in Japan.

With the price cuts in hand Nintendo has been able to sell 3.07 million 3DS as well as 2.58 million DS and 3.35 million Wii in the last half year.

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