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Nintendo forecast is bleak, losses up to £534 million predicted

Nintendo have extended their full year forecast, after yesterdays report, focusing on lower than predicted sales for their 3DS handheld console.

The net loss ending in March 2012 may be up to 65 billion yen ($838 million/£534 million), compared against an earlier forecast for a 20 billion yen loss. Nintendo say they will sell around 14 million units of the 3DS, down from an earlier prediction of 16 million units, according to a statement they issued today.

This loss, will be their first in three decades. Analysts claim that the heavy losses are due to a wider audience purchasing ‘casual’ games for their tablet computers and smartphones. Apple by comparison have doubled their profit in the last quarter alone.

Nintendo 3DS: selling less than predicted

Analysts are predicting that the losses are far from over, even with the imminent release of the new Wii U console. Tomoaki Kawasaki, a senior analyst with Cosmo Securities Co in Tokyo said “Nintendo’s profitability may get lower in the long term because people are starting to stay away from video-game consoles.”

Kitguru says: 2012 looks to be another tough year for Nintendo.

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