Nintendo shares hit following loss warning
Nintendo shares fell as much as 18 per cent in Tokyo on Monday before regaining some of the losses to close down 6.2 per cent.
Investors were reacting negatively to Friday's announcement that Nintendo had slashed its annual Wii U sales forecast from 9 million to 2.8 million units, a dramatic reduction that will swing its full-year results from profit to loss.
Monday's share decline is the company's biggest drop since September and wipes $1.2 billion off its market value, Bloomberg reports.
Nintendo is doing plenty of soul-searching in light of its recent abject commercial performance.
"We cannot continue a business without winning," Nintendo president Satoru Iwata said on Friday. "We must take a sceptical approach whether we can still simply make game players, offer them in the same way as in the past for 20,000 yen or 30,000 yen, and sell titles for a couple of thousand yen each."
The executive, who has no plans to resign, also said: "We are thinking about a new business structure. Given the expansion of smart devices, we are naturally studying how smart devices can be used to grow the game-player business. It's not as simple as enabling Mario to move on a smartphone."
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Related Forum: Gaming Discussion
Source: http://www.computerandvideogames.com/445950/nintendo-shares-hit-following-loss-warning/
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Comments
gmlukensPosted:
KatsumiDominating I only used there crap for Mario.
They also have some other great titles, most people are only interested in mario and pokemon though
Pokemon for me, that game is amazing
KatsumiPosted:
Dominating I only used there crap for Mario.
They also have some other great titles, most people are only interested in mario and pokemon though
AustraliansPosted:
Dominating I only used there crap for Mario.
Hahahaha, that's a nice way to put it. But surely you have played other games like Pokemon right?
CrownsPosted:
Pwh Wow thats alot of cash i used to love nintendo as a kid.
I used to as well, and i still do. :3
CrownsPosted:
XpectXtremeFolk They are loosing money because people won't buy WII U's because they are so expensive.the wii u is the least expensive of the bunch you pleb.
You must have a weird thinking of expensive.
XpectXtremePosted:
Folk They are loosing money because people won't buy WII U's because they are so expensive.the wii u is the least expensive of the bunch you pleb.
EthicsPosted:
such a good company, they should build a console like the old old ones!! they will make some cash from that!.. suc
IntPosted:
-Mark It seems like Nintendo has just been on a constant downhill slope ever since the Wii was released.
yup, i loved the nintendo 64 and their products back in the day, now they have gone downhill.
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