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.

Don't miss out... Get your Design news by email

See all specialist newsletters

61 related companies from Profile Hub, The Drum's modern marketing directory:

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

Latest Projects from the Profile Hub

AVCA - The heart of African VC and PE

19/09/2014
The African Private Equity and Venture Capital Association...

BWP gets colourful with K3

18/09/2014
K3 approached BWP Group to help them design and build a...

dlc - Responsive website

17/09/2014
dlc is the UK’s leading, independent debt recovery firm,...

Ecommerce Solution for B2B and B2C Retailer

16/09/2014
Talking Tables provides high quality party decorations for...

Peak Scientific Innovation - Brand Communications for US Market

16/09/2014
Peak Scientific is a leading Scottish gas generator...