Nintendo Revise Sales for Wii U


Nintendo Revise Sales for Wii U

Latest bad news for Nintendo comes with the revised sales, where it faces the first annual loss in more than three decades. This Kyoto-based videogame maker reduced its full-year sales point of view for a second quarter.

Nintendo ha reduced the sales forecast for its novel Wii-U console, but still hopes to make an annual profit. This view can be attributed to the weak yen. After the disappointing sales, it has forecasted that it will sell only four million Wii-Us in the year up to March, down 27% from its preceding forecast.

The results that have arrived after end of trading on the Tokyo Stock Exchange do not speak well for the financial condition of the company. This shock is also mixed with an overall operating loss of 20bn yen for the year. Earlier, it had anticipated a 20bn-yen operating profit. Financial experts are hoping to have atleast 12bn-yen operating profit on average.

The firm has increased its annual net profit forecast to 14bn yen. All thanks goes to its failing home currency. Last year, it had incurred a loss of 43bn yen. Weaken currency has provided two-pronged benefit for the company. Firstly, it has lead to growth in the value of its foreign currency resources in short-term and secondly, it overturned its stable loss of price competitiveness against foreign competitors in the longer-term.

Latest News

United’s New CEO Oscar Muñoz Aims at Improving relation with Workers
The September Job Number Hint at a Sluggish Patch
First Data Launches its IPO, Targets to Raise Up to $3.7 Billion
ConAgra’s Head Quarter Move Announcement gets Positive but ‘Muted’
Dunkin’ Donut Franchisee Plans to Close One Hundred Stores
Mr. Munoz New CEO of United Airline says Things will Improve under his Leadershi
Reportedly Walmart is Planning to Trim Hundreds of Jobs at its Bentonville
The Government Looking Deeper into Safety Issues; Transportation Secretary
Data Shows Rise in Local Home Prices Slow Down but Surpass the U.S. Average
Oil Futures Drop as U.S. Inventories Show Build-up Surpassing Analysts
Gap’s, Old Navy Head, to Become the new CEO of Ralph Lauren Corp.
Majority of UAW Workers at Warren Truck and Mack Engine Plant Vote in Favor