According to foreign media reports, Nintendo of Japan announced some of its financial data today, in which Nintendo’s operating profit fell 52% from the previous year due to poor sales of the Wii.
It is reported that due to the poor performance of Nintendo’s Wii consoles and the influence of the 3.11 earthquake on consumer confidence in Japan, Nintendo’s operating profit from the previous fiscal year was 356.8 billion yen from the previous year. (43.5 billion U.S. dollars) fell to 171.1 billion yen (about 2.01 billion U.S. dollars), a drop of 52%. It is worth mentioning that the market analysis agency SmartEstimates had previously estimated that Nintendo's operating profit was 2008 billion yen (about 2.45 billion US dollars), higher than the actual figures announced.
In addition, Nintendo put its operating profit forecast for this year at 175 billion yen (about 2.13 billion U.S. dollars), which is 251.8 billion yen (about 2.63 billion U.S. dollars) more than Reuters expected after the earthquake in Japan. Also dropped a lot.
In recent years, Nintendo, one of the largest electronics companies in Japan, has faced many pressures from its competitors. Both in smartphones and tablet PCs, they are under pressure from companies such as Sony and Microsoft. In order to regain market share, Nintendo Co., Ltd. released a new generation of game consoles 3DS, which focuses on "naked eye 3D technology" in March this year. For its veteran console Wii, Nintendo said it will release its new generation of products in 2012.
Before Nintendo released the earnings report, its share price rose slightly by 0.9 percentage points before the close and by 0.1 percentage point in the broader market.
It is reported that due to the poor performance of Nintendo’s Wii consoles and the influence of the 3.11 earthquake on consumer confidence in Japan, Nintendo’s operating profit from the previous fiscal year was 356.8 billion yen from the previous year. (43.5 billion U.S. dollars) fell to 171.1 billion yen (about 2.01 billion U.S. dollars), a drop of 52%. It is worth mentioning that the market analysis agency SmartEstimates had previously estimated that Nintendo's operating profit was 2008 billion yen (about 2.45 billion US dollars), higher than the actual figures announced.
In addition, Nintendo put its operating profit forecast for this year at 175 billion yen (about 2.13 billion U.S. dollars), which is 251.8 billion yen (about 2.63 billion U.S. dollars) more than Reuters expected after the earthquake in Japan. Also dropped a lot.
In recent years, Nintendo, one of the largest electronics companies in Japan, has faced many pressures from its competitors. Both in smartphones and tablet PCs, they are under pressure from companies such as Sony and Microsoft. In order to regain market share, Nintendo Co., Ltd. released a new generation of game consoles 3DS, which focuses on "naked eye 3D technology" in March this year. For its veteran console Wii, Nintendo said it will release its new generation of products in 2012.
Before Nintendo released the earnings report, its share price rose slightly by 0.9 percentage points before the close and by 0.1 percentage point in the broader market.
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