Nintendo financial forecast predicts losses, low Wii U sales

B009AGXH64hardware
Jan
18

Nintendo financial forecast predicts losses, low Wii U sales

B009AGXH64hardware 300x194 Nintendo financial forecast predicts losses, low Wii U sales

Nintendo predicts it will see an operating loss of an estimated 35 billion yen ($335 million US) by the end of its fiscal year on March 31.

The company released its sale forecasts on Friday that shows sales did not meet expectations during the previous holiday season. They initially expected to post a profit of 100 billion yen. Nintendo modified its 3DS worldwide sales to 13.5 million, down from the initial 18 million prediction. Wii U sales forecasts took a staggering drop, from 9 million consoles to 2.8 million, almost 70 percent. Nintendo also predicted 1.2 million Wii system sales, down from 2 million.

“Nintendo 3DS became the top-selling platform in the last calendar year, according to NPD,” Nintendo President Satoru Iwata said to the press, “however, the estimated annual sales of the Nintendo 3DS hardware remain significantly lower than our initial forecast at the beginning of the fiscal year.” With regards to Wii U sales, Iwata added they “fell short of our targeted recovery by a large margin. We did not assume at the beginning of the fiscal year that we would perform a markdown for the Wii U hardware in the U.S. and European markets. This was also one of the reasons for lower sales and profit estimates.”

Last September, in a bid to attract more owners, Nintendo lowered the console’s price from $349 to $299, launching with a special edition bundle with The Legend of Zelda: Wind Waker HD, and later on with New Super Mario Bros. U and New Super Luigi U.

Source: Nintendo Financial Report, Nintendo Investor Relations Dept.

About Gustavo Lazo

Gustavo Lazo was born and raised in the deep jungles of New Jersey. He loves playing video games as well as cursing their names when they give him a hard time. In the past, Gustavo has written reviews for sites like New Game Network and Examiner.

One Comment

  • David
    Jan 18, 2014 @ 11:30 am

    You’re around $200 million over what was actually predicted.

    Reply

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