Nintendo announces huge loss for first quarter
In their quarterly financial results for the three months ending June 2011, Nintendo has revealed that net sales were down by 50 per cent, compared to the same period last year, totalling just under 94 billion yen (£743.8 million) which meant that the company operated at a loss of 25.5 billion yen (£201.7 million).
Contributing factors to such a loss are attributed to marketing for the Nintendo 3DS, strength of the yen over the dollar and disappointing sales.
The Nintendo 3DS, which went on sale a week prior to the quarter starting, has achieved sales of 710,000 hardware units and 4.53 million software units sold. Nintendo has acknowledged that a lack of hit titles were the cause for such disappointing figures.
DS hardware accumulated sales of 1.44 million units, whereas the Wii managed sales of 1.56 million units which were boosted by the price drop and Mario Kart Wii bundle introduced in May.