Nintendo Posts First Annual Loss
The financial news from Nintendo hasn't been great recently, but perhaps things are looking up.
The company posted its first annual loss for the last fiscal year ending this past March 31, with a 36-percent drop in revenue from the previous year due to lower hardware and software sales. In all, Nintendo reported a 37.3 billion yen ($458 million) loss for the year.
Luckily, in a way, this is less of a loss than Nintendo originally forecasted. The company says the down numbers are due to the fact that although 3DS sales are doing better after the price drop, they're still selling the handheld at a loss. Nintendo says that it expects the system to start being profitable this fall, and that, along with the release of the Wii U and some software releases, should bring the company back in the black.