Nintendo posts Q1 loss on strong Yen and lower DS prices

Although foreshadowed, it\’s hard to believe but that the once mighty Ninty, a firm with unshakable profits even during last year\’s global economic downturn, just recorded a Q1 net loss of ¥25.22 billion ($288 million) compared to a net profit of ¥42.32 billion in the course of the same 3-month period a year earlier. Revenues dropped from ¥253.50 billion to ¥188.65 billion. Lower DS portable gaming machine prices coupled with a robust Yen (86.5 percent of its sales were outside of Japan) helped pull Nintendo into the red. Regardless, Nintendo continues to forecast a whole year net profit of ¥200 billion on revenue of ¥1.4 trillion. We\’ll see.

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This post is tagged: loss, lower, Nintendo, posts, prices, yen