Nintendo Reports Huge Losses
Nintendo has reported a 25.2 billion yen (£184.3m) loss for its first financial quarter ended June 30, down from a profit of 42.3 billion yen a year ago.
Sales declined 25.6 per cent during the three month period to 188.6 billion yen (£1.4b), Nintendo’s revealed, while operating income fell 42.2 per cent to 23.3 billion yen (£171m).
“Appreciation of the yen and the lowering of the price of Nintendo DS hardware in Japan and Europe adversely impacted net sales and operating income,” the firm said.
Quarterly Wii hardware sales rose from 2.23 million units last year to 3.04 million, but game sales fell from 31.07 million copies to 28.17 million.
Super Mario Galaxy 2 sold 4.09 million units worldwide in the three month period.
DS sales fell from 5.97 million a year earlier to 3.15 million, while software sales declined from 29.09 million units to 22.42 million.
Nintendo said that Pokemon HeartGold / SoulSilver and Tomodachi Collection “sold well”, but that fewer new releases “contributed to driving hardware sales”.
The news isn’t all bad though; Nintendo still expects to make a full year profit of 200 billion yen (£1.5b) and operating profit of 320 billion yen (£2.4b).
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