Wii U sales falter, Nintendo forecasts loss

Nintendo braces for a second year of losses in latest earnings forecast

January 30, 2013
Nintendo Wii U News

It appears that the Wii U isn’t selling as well as expected, as Nintendo has cut its earnings forecast to a second year of annual loss.

The Japanese company has slashed its forecast to a loss of 20-billion yen (nearly R2-billion, or US$220-million) for the financial year ending March, from a previous forecast of as much in profit.

“It was a somewhat negative surprise,” said Yasuo Sakuma, portfolio manager at Bayview Asset Management, as Nintendo’s forecast was well short of analysts predictions.

Nintendo also cut the sales forecasts of the Wii U (in the year to March 31) from 5.5 million, down to 4 million consoles. 3DS and Wii sales forecasts were also reduced.

In 2012, Nintendo posted its first annual loss in over three decades – a whopping US$530-million loss. While the 2013 forecast is an improvement on this figure, a second year of straight losses cannot bode well for a company that is a cornerstone of the gaming industry.

Source: Reuters

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Tags: Core Group, financial results, headline, Nintendo, Nintendo financials, Nintendo sales, Nintendo Wii U, Wii U sales

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