Nintendo Profits Fall for the First Time Since 2004
Posted by Zach Kaplan
Still made a few billion, though
Associated Press recently reported the Big N's earnings for the fiscal year, which ended on March 31st. The company forecasts their first drop in profit in six years, at 230 billion yen (2.4 billion USD) profit, down from 279.1 billion yen (2.96 billion USD) profit in 2009. Analysts say that this is most likely due to the company's slashing of the Wii's pricetag as well as the strengthening of the Yen against other currencies.
Yuta Sakurai, an analyst for Nomura Securities Co. in Tokyo, has high hopes in spite of this report, saying:
We are expecting the results to be better than the company forecasts for the Wii. Christmas shopping was strong.
Whether the release of the 3DS (or any unsuspected surprises) will boost sales remains to be seen, but the minor reveal did wonders for Nintendo's share prices.