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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Source: http://www.computerandvideogames.com/445950/nintendo-shares-hit-following-loss-warning/
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DinePosted:
CrownsHepticdaRealRush It would be great if Mario, was to move to smartphones!
That would be awesome and it being a plat former and all it would work well.
ZoidbergPosted:
Man, it's crazy how much money can come off some simple things for these huge companies.
CrownsPosted:
HepticdaRealRush It would be great if Mario, was to move to smartphones!
That would be a great idea
I really want that to happen, I would totally play it.
AgesPosted:
daRealRush It would be great if Mario, was to move to smartphones!
That would be a great idea
CrownsPosted:
LiaCrownsLiaLooped They will still get a damn lot of sales, though. As we grow out of their products younger children will be buying the latest Nintendo item lie the Wii U or the latest DS. It is a never ending cycle.
What is keeping them running is the 3DS, it is outselling both the One and PS4.
I can see why though, the 3DS really is a great system.
Pokemon definitely boosts the sales of the 3DS. Mostly everyone I know that has purchased one has bought Pokemon X and Y with it.
Not surprised, Pokemon is a great game.
DissPosted:
CrownsLiaLooped They will still get a damn lot of sales, though. As we grow out of their products younger children will be buying the latest Nintendo item lie the Wii U or the latest DS. It is a never ending cycle.
What is keeping them running is the 3DS, it is outselling both the One and PS4.
I can see why though, the 3DS really is a great system.
Pokemon definitely boosts the sales of the 3DS. Mostly everyone I know that has purchased one has bought Pokemon X and Y with it.
CrownsPosted:
xDylan Their consoles can't even compete with MS and Sonys console. Oh well, bye bye Nitendo. Nobody wants you around anymore.
That is not the truth, Nintendo is an old company, but what's wrong with that, there are still a lot of people who love Nintendo, where are you getting your information?
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