Nintendo slashes 3DS prices after poor sales in Q1
The handheld console will receive a $80 price cut after its poor showing in this quarter.
Nintendo announced their Q1 financial results today, revealing extremely poor sales for its latest handheld, the 3DS.
The 3D-enabled console only managed to push 0.71 million units in the quarter, resulting in the Japanese giant issuing a global price cut of $80 for the system. Previously bracketed at $249, the handheld system will now sell at $169.99 (We are waiting on word if the price cut is valid for the Middle East as well).
Nintendo blamed the results on the bad comparisons to the strength of the yen, as well as “absorbing the inventory markdown taken into account with the connection of the price reduction of the Nintendo 3DS hardware to be made during this September quarter in Japan, the US, Europe and Australia.”
In terms of sales, the 3DS moved 4.53 million units of software in the period.
The Wii did not fare any better as well, with hardware sales plummeting drastically from 3.04 million in FY 2010 to 1.56 million units this year. The system managed to sell 13.44 million units in the quarter.
The DS could not manage to hold its ground, too, only managing to push 1.44 million hardware units in the period, compared to 3.15 million units last year. Software sales touched 12.44 million units in the quarter.
With an all round bleak outlook, Nintendo has cut its full-year profit forecast by almost 80%, from ¥110 billion to just ¥20 billion.