THQ suffers huge loss with uDraw

uDraw was a nifty little peripheral that was released for the Wii that incorporated drawing-based gameplay – as the name implies – and it did pretty well over the holiday period of 2010.

Thinking that concept would have translated very well to HD consoles, THQ released uDraw for PlayStation 3 and Xbox 360. It didn’t do so well.

At an investor Q&A, Eurogamer reports, THQ CFO Paul Pucino revealed that they had about 1.4 million units of uDraw sitting in stock – presumably hanging out playing Pictionary.

This amounts to a $100 million in losses – with an additional $30 million operating loss.

Now, unsurprisingly, THQ are no longer going to carry on with the whole uDraw thing.

This news comes following numerous reports about THQ being in financial troubles – and even more reports about layoffs and general unrest at the company.

Still, they maintain that everything is fine, and their games and core franchises will be running well into 2013.