Welcome Stranger to OCC!Login | Register

Nintendo Posts First Loss in Seven Years

Category: General News
Posted: 01:44PM

It seems Nintendo's money printing machine is coming to an end. The company has just announced a net loss of ¥2.01 billion ($25 million) for the fiscal half ending on September 30th. Last year around this time, Nintendo made a profit of ¥69.49 billion so it is quite a drop from year-to-year. The yen is currently strong right now which is adversely affecting Nintendo, with sales down 35% to ¥363.16 billion for the first half. According to the Wall Street Journal, this is Nintendo's first net loss in seven years during the first fiscal half. The future doesn't look much better for Nintendo either as the company is expecting an annual profit drop to the lower level in six years due to lack of sales from the Wii. Nintendo's forecast means the Wii console will have declined in sales for two straight years. Hopefully there will be something big on the horizon for Nintendo to boost sales, but as it stands, this year will probably be a poor one for the House of Mario.

Register as a member to subscribe comments.
bilcliff on October 28, 2010 05:40PM
maybe because almost every man, woman and child has a wii, hence the fall in sales. another victim of maximising of short run profits with no concern about future profits
McGrimm on October 29, 2010 10:52AM
I don't think these loses will last very long. I believe the 3DS is coming out with in a year and should put Nintendo in the black.

This news has comment postings disabled because it is now archived.

© 2001-2018 Overclockers Club ® Privacy Policy
Elapsed: 0.2086880207   (xlweb1)