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Nintendo Forecasts First Financial Drop In 6 Years
Nintendo's invincibility stars appear to have finally worn off. Following a record-setting 2008, Nintendo is predicting a profit drop for the first time in six years.
2009's fiscal period ended in April for Japan, and though the company made an impressive 230 billion yen (about $2.4 billion), that's down from 279.1 billion yen (about $3 billion) in the previous fiscal year.
Earlier in 2009 Nintendo’s sales were weak. While price cuts to the Wii and DS helped move more units, it also took a chunk out of profitability. And although holiday shopping was a boost for the company, it wasn’t enough to save them from an overall decline.
[Source: The Star]
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