The Japanese computer game giant Nintendo yesterday revealed it expects annual profits to fall for the first time in four years after quarterly profits were hit by tumbling sales of its Wii video game consoles.
For the three months ended June, Nintendo said sales of its Wii consoles plummeted by 57 per cent, hit by "fewer blockbuster software titles" releases, notably Mario Kart Wii and Wii Fit, compared with the same quarter a year ago. In the quarter to June, the group's operating profit fell by 61 per cent to ¥42.3bn (£268m). Total revenues at Nintendo fell by 40 per cent to ¥253.5bn, partly as a result of the appreciation of the yen. In contrast, its rival Sony yesterday unveiled a smaller than expected quarterly loss of ¥37.1bn, boosted by cost-cutting.