Wednesday, October 21, 2009

Nintendo Sees First Profit Drop in 6 Years

"Nintendo may cut its profit projection about 30 percent because of sluggish sales in the first half, the price cut for the Wii and currency-related impact," said Satoru Kikuchi, analyst at Deutsche Bank AG in Tokyo to Bloomberg. "Investors are expecting the company to fully reflect its business environment in its forecast."

It's predicted Nintendo's Net Income will probably decline 11 percent to 249.3 billion yen ($2.7 billion) this fiscal year, according to 10 analysts asked by Bloomberg. The will be the first drop since March 2004.

Nintendo will report their total earnings on October 29. All I have to say is, isn't one Wii console enough for every family on the face of the earth.

1 comment:

TheAssailant6661 said...

1) Predicting a Profit Drop and seeing one is different.

2) If people have 3 PS3s and 3 360s, why not 3 Wiis per household?

3) Analysts can, at times be dead wrong.

4) Wii price drop helped a bit.