Financial Loss For Nintendo’s First Quarter Confirmed
Nintendo have just announced their results for the first quarter of this current fiscal year and, as has been expected, it verifies that there has been a substantial loss in finances. Following Nintendo’s announcement back in April regarding their first annual loss in thirty whole years, it doesn’t really come as too much of a surprise – the company has had to wake up and smell the putrid scent of Bowser’s lavatory as they have been having quite a few problems with the 3DS launch and declining Wii sales.
Over the three-month period that officially ended on 30th June this year, Nintendo’s net loss has been confirmed at approximately ¥17 billion, the straight equivalent of about $217 million USD or £140 million GBP. The loss had been previously anticipated based on Nintendo’s loss of significant funds on the 3DS hardware sold, though it has now been confirmed that as of 25th July this year, this will no longer be the case. The same report also confirmed that the projected end-of-year profit of ¥20 billion remains the same – evidently saying Nintendo isn’t that baffled by the incoming results.
Looking at 3DS sales, in Japan, Nintendo’s welfare is seeming quite evident – the company was described as “robust”, with a total amounting to 920,000 3DS sales in the country. Although, some concern still remains, as the worldwide total of sales for the handheld only totaled to 1.86 million units – meaning that sales in the US and Europe combined only just scraped up enough to match Japan’s figures. But, compared to figures brought in from this very same period just last year, which sold 710,000 units, things are still better off than they could be in the worst-case scenario.
As a conclusion, the report doesn’t bring any real surprise – the momentum has been dying down for the Wii, and the 3DS sales have been hitting rough patches nilly-willy outside of Japan. Things are still looking encouraging at this stage though, as Nintendo is still projecting the same amount of profit for this coming year-end: most notably being brought in by the soon-to-be-released 3DS XL, the platform’s big-name games coming to us this year, especially New Super Mario Bros. 2, and of course, the anticipated Wii U expected to hit this seasonal period. Happy days indeed.