Nintendo posts losses on strong yen and falling sales

Nintendo results A price cut for the Nintendo 3DS has failed to revive the company's figures

Related Stories

Japanese gaming giant Nintendo has unveiled heavy losses, blaming the strong yen and poor sales of its key 3DS console.

In the nine months to 31 December, it posted a loss of 48.35bn yen ($628m; £400m).

It compares with a 49.5bn yen profit in the same period of the previous year.

It has revised down its prediction of sales of its 3DS model in the full year from 16 million units to 14 million units.

The prediction comes despite a 20% cut in the cost of a Nintendo 3DS in August.

The company believes its loss for the full year will be 65bn yen, much larger than the 20bn yen loss projected earlier.

Nintendo's nine-month sales dropped to 556.17bn yen, down 31.2% from the same period the previous year.

The firm has traditionally appealed to casual gamers, who are now using smartphones and tablet computers instead of consoles.

The strong yen has also hurt Nintendo's bottom line. The dollar has been trading at about 77 yen in the last week, down from about 83 yen a year ago.

Competition in the gaming sector is increasing with the launch of Sony's Playstation Vita.

The console went on sale in Japan in December and is due out next month in the US and Europe.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features & Analysis

  • Cerro RicoSatanic mines

    Devil worship in the tunnels of the man-eating mountain


  • Nefertiti MenoeWar of words

    The woman who sparked a row over 'speaking white'


  • Oil pumpPump change

    What would ending the US oil export ban do to petrol prices?


  • Brazilian Scene, Ceara, in 1893Sir Snapshot

    19th Century Brazil seen through the eyes of an Englishman


Elsewhere on the BBC

  • SailingGame on

    BBC Capital discovers why certain sports seem to have a special appeal for those with deep pockets

Programmes

  • European Union's anti-terrorism chief Gilles de KerchoveHARDtalk Watch

    Anti-terrorism chief Gilles de Kerchove on the threat from returning Islamic State fighters

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.