Sony and Nintendo Take Stock Hits

All is dour and dark in Japanese trading

Posted by Staff
A Graph showing a bad thing.
A Graph showing a bad thing.
Both Sony and Nintendo have been suffering of late. The latter has even had to cut the price of its apparently game changing 3DS. Investors are not happy.

Reuters reports from Japan that:

"Sony fell 3.3 percent to 1,947 yen after the company cut its annual net profit forecast and slashed its outlook for TV sales, while keeping its operating profit forecast unchanged."

"Nintendo nosedived 12 percent to 12,290 yen after hitting a low of 11,010 yen in the morning. The videogame maker slashed its full-year profit forecast far below market expectations to the lowest level in 27 years after it was forced to cut the price of its 3DS handheld games device to try to jumpstart weak sales, just six months after launching the gadget."

Source: Reuters
Companies:
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