Nintendo cuts 3DS sales forecast, will report first annual loss

Nintendo recently published a note in which it said it will report an annual operating loss of 45 billion yen ($575 million) for the December quarter. Analysts had expected the Japan-based gaming giant to report a 4.2 billion yen loss, Reuters said Thursday. The company now expects to ship 10 million Wii consoles, instead of the original 12 million projected, and 14 million units of its portable 3DS gaming consoles, down from 16 million units. ”We had higher expectations for the year-end season, but failed to meet them,” President Satoru Iwata said while speaking to press in Osaka, Japan. Three analysts speaking to Reuters all agreed that Nintendo needs to rethink its strategy and understand... »read more

More at: www.bgr.com Add additional source