Yesterday after Nintendo cut the price of it's new handheld the 3DS to $169 it's largest shareholder and previous Co.President Hiroshi Yamauchi has lost over $300 million in a single day. Read on to find out more.
that must've hurt for him.
Im pretty sure him and his family wont starve.
Glad to see Nintendo getting some humble pie. The reason why the Wii sold so good was because of Sony and MS ignoring the Wii becuase it had last gen tech and forgot that the casuals out number the hardcore. I dont see this same success for the Wii U because Sony (Move) and MS (Kinect) have tapped into the Wii market and both consoles Will be cheaper than the Wii U - sure the Mario and Zelda name sells consoles but if you been watching the news the debit crisis in the USA is bond to hit the global world hard and moms will go for cheaper and not popular. I can also see the same effect happening to the PS Vita - yes we hardcore gamer will buy it day one but mom will have a choice of the cheaper 3DS or the more powerful but expensive Vita. Sony will have reconsider the price after 3 month if the Vita is not selling like they expected.
Problem is cheaper will still be the wii plus it is more Likly wiis will be passed down to your kids. Blu ray players maybe not. The xbox deaths or claims are not helping.
Those are really negative stuff for Nintendo and Sony but I agree. It is really a tough time for the whole video games entertainment industry. Sony better make the PSVita's overall value proposition more compelling than what it is right now. Jam pack it with value & worthwhile functionality.
He lost pocket change
Even after that loss, the dude's still a billionaire (in U.S. currency, that is).
So what its not like hes going to sell his stock, just hold onto it the stock will go up. Best time to buy nintendo stock if your interested
And im sure you know how the stock market works ?
he's actually right, with price drops of 3ds and Wii u coming out in a year it will go up.
on paper he lost 300 million. You dont lose money until you sell. Its like the current recession you would have lost alot of money when the dow was like 8000 but if you waited the markets went back up and are now i think over 12000 and you would have made the money back. Its a very basic concept when compared to other things like short selling etc. There is no real reason that nintendo stock went down so much other then people being spooked.
it didnt cost him anything the assert just devalued. It will probably reegain the losses with time once the market stabilises, whenever that may be
Do you? Now is the time to buy. Then sell it when the Wii U launches. No telling how the stock will perform after the results for that launch come in.
@metsb you did it wrong, it's OVER 9000!!!!!!!!!!!!!
That is if the Wii U sells well (i do hope it will). Also @metsb FYI $300 million is a ton of money not to mention he lost it in ONE day! Also I wrote this article so thanks for the comments guys!
I agree with StolenSoul. Despite the recent crash, it would smart to invest into Nintendo. The crash happened with the $250 3DS that had no games (not to mention the Wii hasn't had much this year.) It's going the be $170 now and it has some the games we've been waiting for out already, with Starfox and Kid Icarus and Mario 3DS coming soon. The 3DS is going to skyrocket now. Nintendo is learning from their mistakes and making sure the Wii U doesn't end up like the 3DS, and with the new controller, casuals will go crazy over it. I expect the Wii U to be a huge success.
Kid Icarus lol.
Starfox 64 wasn't all that in the first place. The port just bombed in Japan. I don't see it doing that well elsewhere. Lack of other new games will help though.
i saw that sales had double in japan cause of starfox
Sales of the 3DS saw a boost because they released a new red colour 3DS.
I agree now is a good time to invest in Nintendo but it is the biggest drop in their stock since 1990 and $300 million is a ton to lose much more in one day and that's why I wrote the article on it
I thought it was a good time to invest after the 3DS and the japan disaster, turns out I was wrong and lost some money. hopefully it will go back up
It's not what you loose in a day it's what you do over years. It can be seen as an investment like buying a factory. That's lost money yet it dispose to make some thing happen. This price reduction is a signal to 3rd parties and the people at nintendo internally. It seems nintendo does really fire people they will simply make you quit by not paying you lol. Awesome! Also he is a billionaire and this lost should be compared with others like degas and sonys. Also we are about to see nintendo get serious about online publishing and social media yet not in a conventional way.
I would like to be able to afford losing $300 million :/
dont anyone think that reading something like this wanna make you puke.. here we are gamers who are scrimping to save to buy a 60 buck game in this woefull economy and they treat millions like we treat a dollar. I dont feel bad at all for him.. he still can take his Bentley to the bank and lol all the way
I feel soooo bad that a billionaire lost 300 million Poor him. I wonder if he is going bankrupt now or if he is losing his mind.
another victim of apple
He is rich. He will survive
I want Nintendo to suffer cuz to be frank they were pretty arrogant this generation...give them a little wake up call but I dont want them to be financially severed cuz Nintendo make some of the best games around in gaming.
In other news I just lost $390 on a car payment.
Boohoo, bilionaire loses a few pennies.
the stocks will go back up eventually and he will get his money back. they fluctuate you know.
Looking at how nintendo started this generation and how they ended its wierd o.o
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