Nintendo confirms company losses round to nearly $1 billion
By Khalil Daou on October 27, 2011
Almost as bad as predicted.
Nintendo has just confirmed that its income net for this year’s period of April-September confronted a massive loss of 70.2 billion yen – that’s $926.3 million.
Japanese publication Nikkei predicted earlier the gaming giant’s loss could be as high as 100 billion yen. Although it’s not as accurate as Nintendo’s announced figure, still it’s close enough.
Nintendo suggested the loss is mostly due to “a smaller number of hit titles, and significant decrease in software and hardware sales compared to the same period of last year. The company also blamed the crippling currency conversion from US dollar to “a much stronger yen”.
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