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Nintendo Shares Dive on Loss Warning
Published Jan 22, 2014
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On Friday, Nintendo said it expects to make an operating loss of 35bn yen ($335m; £205m) for the financial year ending 31 March 2014.
It had initially forecast an operating profit of 100bn yen for the period.
The company blamed weaker-than-expected sales of its Wii U console during the holiday season for the downgrade in its earnings forecast.
As a result, it lowered its global Wii U sales forecast for the business year from nine million to 2.8 million units - a cut of nearly 70%.
Nintendo also reduced the sales forecast for its 3DS console from 18 million to 13.5 million units.
The firm's shares fell to as low as 11,935 yen on the Tokyo Stock Exchange on Monday.
Posted by
VMD - [Virtual Marketing Department]
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