TechHive: Nintendo revises earnings down on weak Wii U, 3DS sales

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thumbnail Nintendo revises earnings down on weak Wii U, 3DS sales
Jan 17th 2014, 14:21, by Tim Hornyak, IDG News Service

Citing disappointing holiday sales of its Wii U and 3DS game devices, Nintendo cut its earnings forecast for its fiscal year ending in March to a net loss.

The video-game giant warned on Friday of a net loss of ¥25 billion (US$240 million) for the year, instead of the ¥55 billion net profit it had forecast last April.

The company posted a ¥7.1 billion net profit for its 2013 fiscal year.

Nintendo blamed the let-down on weak sales of high-margin games during the year-end period, which it in turn attributed to slower-than-expected hardware sales.

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