¥100 billion in Loss for Nintendo in Upcoming Report
Things are not looking better for Nintendo. After a rough launch for the 3DS, a confusing Wii U announcement at E3 and despite the big price cut in a desperate attempt to restart sales, the Company is set to launch a report detailing bigger losses than anticipated.
According to Reuters, “Nintendo Co is expected to post a recurring loss of about 100 billion yen ($1.32 billion) in the first half ending on September 30, much worse than the 55 billion loss the company has forecast”. That is a lot of money even for a company this size.
Nintendo makes 80% of its sales overseas, and according to The Nikkei, 40 billion were lost just because of the foreign exchange rates, mostly because of the euro.
The shares of the company fell down 7.5% after the news broke. No bright future ahead for the Japanese game maker it seems.