DA
07-31-2009, 01:45 PM
The first quarter of the financial year has not been kind to Nintendo. The console holder has reported a 60.6 percent drop in profits, citing the yen's current strength in the global market and a fall in demand for the Wii as reasons for the decline.
According to a statement detailing the consol'se holders financial results (via Videogaming247), Nintendo has seen its net income drop from 107 billion yen over the same period last year to 42 billion yen.
This came as the Wii's worldwide sales dropped from 5.17 million units in the first quarter last year to 2.23 million this year, and the DS dropped from 6.94 million to 5.97 million.
Nintendo pointed to the relative lack of early blockbusters, saying, "There were fewer blockbuster titles that briskly drove hardware sales this June quarter versus the same period a year ago when titles like Mario Kart Wii and Wii Fit were launched in overseas markets."
Despite the rough start though, Nintendo's forecast for the rest of the year remains unchanged from previous projections. They expect to hit targets of 26 million Wii sales and 30 million DS sales for the entire year, with a total profit of 300 billion yen.
According to a statement detailing the consol'se holders financial results (via Videogaming247), Nintendo has seen its net income drop from 107 billion yen over the same period last year to 42 billion yen.
This came as the Wii's worldwide sales dropped from 5.17 million units in the first quarter last year to 2.23 million this year, and the DS dropped from 6.94 million to 5.97 million.
Nintendo pointed to the relative lack of early blockbusters, saying, "There were fewer blockbuster titles that briskly drove hardware sales this June quarter versus the same period a year ago when titles like Mario Kart Wii and Wii Fit were launched in overseas markets."
Despite the rough start though, Nintendo's forecast for the rest of the year remains unchanged from previous projections. They expect to hit targets of 26 million Wii sales and 30 million DS sales for the entire year, with a total profit of 300 billion yen.