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Nintendo saw 46 percent drop in profits

Posted on Thursday, January 27 2011 @ 13:57:43 CET by

Nintendo announced a 46 percent fall in quarterly profit in its fiscal Q3, as sales of the Wii and DS consoles are tumbling.
Underscoring the tough competition, Nintendo cut its sales forecast for the Wii console to 16 million units from 17.5 million units for the year to March. It also lowered its DS sales forecast to 22.5 million units from 23.5 million.

October-December operating profit at Nintendo, which competes with Sony and Microsoft was 104.6 billion yen ($1.3 billion), compared with 192.3 billion yen a year ago and versus an analysts' consensus of 118 billion yen.

For the year to March, Nintendo left its operating profit forecast at 210 billion yen, down from 356.6 billion yen the previous year and compared with a consensus of 203.5 billion yen in a poll of 25 analysts by Thomson Reuters I/B/E/S.
Source: Yahoo News



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