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."
Posted:
Related Forum: Gaming Discussion
Source: http://www.computerandvideogames.com/445950/nintendo-shares-hit-following-loss-warning/
Related Articles
Comments
GossipPosted:
They are loosing money because people won't buy the WiiU because they are so expensive.
-SignedPosted:
KatsumiInt feel bad for nintendo they used to be good.
They are still doing pretty well with the 3DS. The game line up actually looks pretty promising if you ask me
But one can't rely on just one console. They really need better stuff. Sony and Microsoft are blowing them out of the water.
KatsumiPosted:
Int feel bad for nintendo they used to be good.
They are still doing pretty well with the 3DS. The game line up actually looks pretty promising if you ask me
VPNPosted:
-SignedTanyaInt feel bad for nintendo they used to be good.
mario and the wii, both perfection!
Right now the only reason I still have a DS is because I'm waiting for Super Smash Bros. Other than that, I don't really like Nintendo anymore.
Yeah, most people now a days stay with Nintendo for the original series.
-SignedPosted:
TanyaInt feel bad for nintendo they used to be good.
mario and the wii, both perfection!
Right now the only reason I still have a DS is because I'm waiting for Super Smash Bros. Other than that, I don't really like Nintendo anymore.
Latest Downloads
- 01. Lost Winds | 100% Savegame(0)
- 02. Mega Man 10 | Savegame(0)
- 03. Mega Man 9 | Savegame(0)
- 04. LASTFIGHT Secret character unlocked(0)
- 05. PC Horizon Forbidden West Complete Save(5)
- 06. Castlevania: The Adventure ReBirth | 100% Savegame(0)
- 07. ExciteBike World Challenge | Savegame(0)
- 08. World of Goo | 100% Savegame(0)
- 09. La Torre de las Sombras | 100% Savegame(0)
- 10. Beat the Beat: Rhythm Paradise | Savegame(0)
- 11. The Legend of Zelda: Skyward Sword | Savegame(2)
- 12. [US] Kingdom New Lands _ Crowned - CUSA10970(4)
- 13. GTA 3 Definition Edition Game Save(6)
- 14. [US] Kingdom New Lands _ Heraldic Achievement CUSA10970(0)
- 15. [US] Kingdom New Lands - CUSA10970(1)
Latest Tutorials
- 01. The Redress Of Mira 100% Walkthrough | Trophy & Achievement(338)
- 02. Russian Pinocchio Quick Trophy Guide(391)
- 03. Venatrix Quick Trophy & Achievement Guide(331)
- 04. Call of the Sea 100% Platinum Walkthrough(517)
- 05. Wire Lips 100% Platinum Walkthrough(426)
- 06. The Expanse 100% Platinum Walkthrough | Trophy & Achievement(443)
- 07. Doctor Who: The Edge of Reality - PS4 Platinum P/Thru(365)
- 08. Doctor Who:The Lonely Assassins - 100% Guide(332)
- 09. DAYMARE 1998 PS4 - Full game 100% TROPHY WALKTHROUGH(314)
- 10. Stray Platinum Walkthrough | Trophy & Achievement Guide(351)
- 11. Raji: An Ancient Epic | Complete Gameplay Walkthrough(419)
- 12. Corpse Killer: 25th Anniversary Edition - Longplay(384)
- 13. Song of Horror: Complete Edition Gameplay Walkthrough(301)
- 14. Remoteness 100% All Trophies Walkthrough(347)
- 15. Detective Inspector Mysterious Clues Platinum Walkthrough(382)
"Nintendo shares hit following loss warning" :: Login/Create an Account :: 90 comments