Nintendo to post first ever annual loss as 3DS disappoints
Nintendo is poised to post its first ever annual loss following disappointing sales of its flagship 3DS console.
The Japanese giant expects to post an annual net loss of £165m after disappointing sales came in well below predictions.
Launched amidst great acclaim earlier in the year the device has struggled in the face of an increasingly competitive smartphone gaming market and an anaemic library of games.
Nintendo has been forced to drop the price of its gadget to boost sales and has been urged to adopt a drastic rethink of their marketing strategy to turn things around.
In response to the new climate Nintendo has reduced its software sales targets by 30% to 50m units for the year to March, although it is holding its 3DS hardware target steady at 16m.
Analysts regard these figures as “highly optimistic” however.