Printed from http://www.electronista.com

Nintendo lowers annual profit prediction by a third

updated 04:55 pm EST, Thu January 29, 2009

Nintendo lowers outlook

Nintendo on Thursday announced it expects to post a 2008 profit 33 percent lower than it originally expected due to the slowing economy. The predicted difference comes despite the video game maker selling about 1 million more Wii systems than it originally predicted by the end of 2008. When the fiscal year ends at the end of March, Nintendo is expecting to post a profit of $2.5 billion instead of the $3.8 billion it predicted in October.

Apart from the 24 percent rise in the value of the Japanese yen against the US dollar, the game industry blames the change in forecast on a less desirable game lineup than what existed six months ago. Nintendo is coming off a strong third quarter during which sales were 21 percent higher than the same time in 2007, but the sudden economic collapse in the fourth quarter resulted in the lowest overall sales the company has experienced in three years.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Cat B100

Cat is primarily known for its heavy-duty machinery used in the construction industry and farming, among other areas. What may not be ...

Linksys EA6900 AC Router

As 802.11ac networking begins to makes its way into more and more devices, you may find yourself considering an upgrade for your home ...

D-Link DIR-510L 802.11AC travel router

Having Internet access in hotels and other similar locations used to be a miasma of connectivity issues. If Wi-Fi was available, it wa ...

Sponsor

toggle

Most Commented

 
toggle

Popular News