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Nintendo records first half-year loss in seven years

Posted on Thursday, October 28 2010 @ 15:34:28 CEST by

Nintendo swings to its first half-year loss in seven years as the company's sales are down 34 percent to 363.16 billion yen due to lower demand for the company's Wii console and the high value of the yen. Additionally, the outlook is pretty bleak as Nintendo forecasts that its annual profit will drop to the lowest level in six years, as Wii sales are declining for the second year.
The Japanese computer games firm posted a net loss of 2bn yen ($24.7m; £15.6m) for the six months to 30 September.

This compares with a net profit of 69.5bn yen for the same period in 2009.

Nintendo's sales for the first half of its financial year were down 34% to 363.16bn yen, partly due to lower demand for its Wii console.
Source: BBC News



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