Nintendo hurt by free mobile games
Friday 27 January 2012
The soaring popularity of free and cheap games on tablets and smartphones appears to be hitting traditional consoles manufacturer Nintendo.
The Japanese video games giant behind the Wii and the DS yesterday forecast it is going to crash to an annual loss of around ¥45bn (£370m) after poor sales.
The company had previously forecast a ¥1bn operating profit for the financial year to March 2012.
Profits in the most recent three months to Christmas slumped by 61 per cent, not helped by the strength of the Japanese currency.
Nintendo has struggled particularly with its 3D hand-held console, the 3DS, and had to slash prices by about a third.
The group now expects to sell 14 million 3DS devices this year against earlier hopes for 16 million.
Analysts say Nintendo is also suffering as consumers wait for its new console, the Wii U. It confirmed it is due to launch the Wii U before the end of the year in the United States, Europe, Australia and Japan.
- 2 Friends 20th anniversary: Alison Jackson photographs reunited cast
- 3 A bottle of wine a day is not bad for you and abstaining is worse than drinking, scientist claims
- 5 Free U2 album: How the most generous giveaway in music history turned into a PR disaster
Scottish independence: Despite defeat history may still point to Alex Salmond as the victor
Scottish independence referendum: Frankie Boyle reacts to nation's 'No' vote - 'To be fair, I've always hated Scotland'
Iranian blogger found guilty of insulting Prophet Mohammad on Facebook sentenced to death
Scottish referendum: Police struggle to control Unionist rally in Glasgow's George Square
Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
Scottish independence: The Queen breaks silence on referendum debate – as think tank warns of £14bn black hole if Scotland votes Yes
iJobs Money & Business
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...