Nintendo lost money. It is the first time in recent memory that it has done so. Some of the blame falls on the value of the yen. But, more important, sales of its Wii console and newer 3DS handheld device fell. Reuters reported that
The operating loss of 37.3 billion yen in the year that ended March 31 compared with a consensus estimate of a 41.4 billion yen loss, based on forecasts by 20 analysts surveyed by Thomson Reuters I/B/E/S.
The real threat to Nintendo’s ongoing profitability is rivals Sony (NYSE: SNE) and Microsoft (NASDAQ: MSFT) which continue to have sales successes with their respective PS3 and Xbox 360 products. And, all three face competition from the migration of games to smartphones, which is a trend none of the three has been able to combat.
Sponsored: Want to Retire Early? Start Here
Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
