Nintendo admits 'weaker' 3DS demand as earnings targets slip
24th Oct 2012 | 08:41
Sales of the Nintendo 3DS handheld have not met the internal projections at Nintendo, the company showed today in a financial report disclosed to investors.
In April it had expected to bring in 230 billion yen (£1.8 billion) from all business but fell short by more than a tenth of that goal (about £230 million).
Nintendo's bottom line for the six months ending in September was £62 million below expectations, with the group explaining: "Sales of the Nintendo 3DS hardware and software were weaker in overseas markets than expected". The Kyoto headquartered firm also cited yen appreciation as a problem.
Overall the company lost £220 million during the six months - a significant hit but nevertheless half of what it lost in the same period last year.
As of September 30th, worldwide 3DS sales stand at 22.2 million units. The original DS has surpassed 152 million, with the Wii closing in on its 100 millionth sale.
Nintendo has drastically cut its full year profit forecast from £157 million to £47 million ahead of a crucial six months of trading.
The company expects to sell 5.5 million units of its new Wii U console in the year ending March 31, as well as 5 million Wii units.
Meanwhile, company lowered its 3DS sales expectation by one million units, down to 17.5 million for the financial year.