Saturday October 31, 2020

Nintendo posts its first ever loss

Japanese games console manufacturer Nintendo announced its first ever annual loss today.

26th April, 2012
Nintendo hopes sales of its 3DS will reverse losses.

Japanese games console manufacturer Nintendo announced its first ever annual loss today.

It slightly exceeded analyst expectations with a net loss of ¥37.3 billion (€347 million). The company is facing stiff competition from other console manufacturers Sony and Microsoft but now also must contend with online gaming on iPhones, android and Facebook.

It forecast profit this fiscal year will miss analysts’ estimates as consumers increasingly play games on mobile devices. But it is not all...

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