26 April 2012 - 10:21am | posted by | 0 comments

Nintendo records first ever annual loss

Nintendo records first ever annual lossNintendo records first ever annual loss

Video game giant Nintendo has suffered its first ever annual loss after it was hit by declining sales of its popular Wii console and a loss it incurs on each 3DS handheld it sells following recent price cuts.

Disappointing sales were compounded by a strong Yen which further deflated revenues to make a loss of 43.2bn Yen (£329m) for the year.

The figures are actually better than the Kyoto based firm predicted with the expectation having been that losses could hit 65bn Yen.

Nintendo has been hit by declining sales in the face of cut throat competition with Microsoft and Sony as well as exponential growth in the smartphone gaming sector.

The Japanese giant stated that it expects to return to profit in 2012 as the Yen weakens.

Be the first to comment on this article: sign in or register.

Latest Projects from the Profile Hub

Cotswolds Distillery Inaugural Release

23/10/2014
The first ever Cotswolds Dry Gin from the first 10 runs at...

Jurlique's #AgelessBeauties Twitter Party Increases Sales!

22/10/2014
To celebrate Jurlique’s latest product range launch; Nutri-...

EMCAS

22/10/2014
OVERVIEW Financial mis-selling is an ever-growing issue –...

Visit Wales - creating romantic breaks

22/10/2014
Delivering 1000% increase in 'romantic' traffic Challenge...

Recruitment campaign

21/10/2014
Thermal Systems are an international client based in...