Nintendo - along with cutting the price of the 3DS - has also posted its first ever quarterly loss.
According to Reuters, "Japan's Nintendo Co posted its first ever quarterly operating loss, cut the price of its 3DS handheld game player and slashed its full-year profit forecast far below market expectations, hit by sluggish sales and a strong yen.
"The weak result confirms worries among investors that the video games maker is too focused on hardware when the market is shifting toward software, with games played on the Internet and on smartphones seen as a key driver of industry growth."
The report also states that, "Nintendo kept its full-year sales forecast for the 3Ds at 16 million units but said it would cut the device's suggested retail price in Japan by 40 percent to 15,000 yen ($192), which market watchers say is likely to drive the stock down further on Friday."
Sources:
Reuters
Nintendo
According to Reuters, "Japan's Nintendo Co posted its first ever quarterly operating loss, cut the price of its 3DS handheld game player and slashed its full-year profit forecast far below market expectations, hit by sluggish sales and a strong yen.
"The weak result confirms worries among investors that the video games maker is too focused on hardware when the market is shifting toward software, with games played on the Internet and on smartphones seen as a key driver of industry growth."
The report also states that, "Nintendo kept its full-year sales forecast for the 3Ds at 16 million units but said it would cut the device's suggested retail price in Japan by 40 percent to 15,000 yen ($192), which market watchers say is likely to drive the stock down further on Friday."
Sources:
Reuters
Nintendo
Companies:
Nintendo
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