The game company saw its revenue slide by 36.2 percent during the fiscal year that ended March 31, pushing the previous year's profit into a huge loss.
The 3DS and Wii could do nothing to save Nintendo during its most recent fiscal year.
The company today released the results of its fiscal year that ended March 31 (PDF) and revealed that revenue slid 36.2 percent compared with the previous fiscal year. Nintendo ended its year with revenue of 647.6 billion yen (about $8 billion), versus over 1 trillion yen in the prior year.
Due to sluggish sales, Nintendo posted a net loss for the year of 43.2 billion yen ($532.5 million). In the prior year, it had generated a profit of 77.6 billion yen.
Nintendo's troubles over the year were numerous. For one, the company was forced to sell the Nintendo 3DS portable below cost in order to attract customers. This meant that the iconic game firm took a hit on every unit sold. Meanwhile, sales of Nintendo's Wii console continued to drag, and the company's software franchises were off the mark on the year. Add that to a strong yen, and Nintendo could do little to turn things around.
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What does Sony have anything to do with Nintendo losing profits? Salty much?
And like I said before, in the previous year Nintendo made nearly twice what they lost this past year.
"Massive losses" is over exaggerated all things considered, as it sounds like there are no layoffs and this is a one time thing in the past 30 years.
" The results are better than what they were expecting. Something is wrong with the title."
Don't you mean "than 'we' were expecting".
Where did all these Ninty fanboys come from all of a sudden? lol.
Sound like 60gb ps3 first started off taking a hit every console back in 2006
Just look at the sales of MK and Mario Land 3D.
And even though they hope things will pick up, their own forecasts only call for $250 million for the next fiscal year. Investors aren't going to be happy with that. Good thing the company is flush with cash still from old Wii/DS sales. But if the Wii-U underwhelms (and they're already saying the thing has to sell at $350 just to break even) what then, Nintendo? Mario on the PS3? Are you going to go the route Sega went?
Edit below: I didn't say that was going to happen. I speculated at what could happen if the Wii-U doesn't take root and the 3DS continues to underperform outside of Japan. What do you think will happen if those two scenarios play out? Nintendo will just ride it out until next gen like nothing is happening? And I'm not the first one to suggest that Nintendo could greatly profit by licensing out their top franchises. You know what kind of crazy amounts of cash Nintendo could rake in if they put out a Mario game on the ipad/iphone, for example?
I guess here on N4G when SONY losses $6.4 billion, they'll be alright but when Nintendo losses $5.3 million for the first time in history, they are all the sudden doomed... smh
Edit @ your edit: Lol. Dude, 3DS is doing great worldwide. It's one of the top selling hardware everywhere. And that idea with licensing to iphone is completely stupid. Nintendo has a handheld. Why would anyone buy their handheld and pay $40 per game if they can use their iphone and pay $5 per game? THAT would doom them. I'm sure glad you aren't running Nintendo...
Source:
http://www.nytimes.com/2012...
Sit back and relax Darkride, Nintendo has billions upon billions in the bank. This is no different from any other company taking a hit in this economy.
Losing money on every 3DS is a good and bad. They are selling, so people will inevitably buy more games, but they are taking the front end loss, while hoping for back end profit.
Comparing the Sony (or MS)and Nintendo's situations are a little different. Nintendo only does gaming while the other 2 do mostly non-gaming. Can't recall for MS, but Sony's losses were not related to their gaming, as the kind hippy said.
http://www.gamasutra.com/vi...
Nintendo loses in one year half what they made the year prior. This is their only loss in 3 decades.
So no, they aren't comparable. But Sony's loss is still far worse.
Though I think they have already started overcoming it.
Also, Nintendo didn't slash jobs, but they sold a lot of assets this year.
They should start to be profitable soon if this is true.
Welcome to the bizarro world of N4G. When was the last time Sony wasn't in the red btw? This is Nintendo's first operating loss in its existence. And there's good reason for that too, Nintendo made some bad business decisions, abandoning two cash cows Wii/DS, banking heavily on 3D and not pumping out the proper software needed to sell the hardware.
I've no dog in this fight, but call a spade a spade. Don't try to sensationalize Nintendo's recent losses and then try to marginalize Sony's abysmal financial situation.
I remember a time when people just gamed.
the 6 billion loss for sony was for all of their other divisons beside the playstation divison.
Also, Nintendo's never sold at a loss and has made profits on all of their consoles, including the 64 and the GCN. The 3DS is the very platform to be sold at a loss due to its price cut (which according to a report will become irrelevant between April and September of this year since the technology will be cheaper by then).
Suggesting that Nintendo is financially unstable is ludicrous.
They'll bounce back at years end.
There's been a threefold hit on them with the 3DS price drop, the WIIU R&D and the Yen.
Sheesh,grow up you (financial advisors) you :| ...
Yet the trolling continues.