Nintendo slashes earnings outlook to a loss on grim sales
Satoru Iwata, Nintendo president, on Friday said that sales of the Wii U console and the 3DS handheld fell well short of its forecasts in spite of a heavy promotional push. Instead of turning a net profit of Y55bn ($527m) for the year to the end of March, the company now expects to lose Y25bn. The loss is the second of the past two years, following a Y43bn net loss – the company’s first in 50 years as a public company – in the 2012 fiscal year.
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