TOKYO, Oct 29 (Reuters) - Nintendo Co Ltd reported a 59 percent decline in first-half profit on Thursday, hurt by sluggish demand for its flagship Wii videogame console and the strong yen, and it slashed its full-year forecast.
Nintendo, which faces stiff competition in the videogame market from Sony Corp, and Microsoft Corp, said operating profit was 104.4 billion yen ($1.2 billion) in the April-September half, compared with 252.2 billion yen a year earlier.
Nintendo cut its operating profit forecast for the year to March 2010 by nearly a quarter to 370 billion yen, ending a three-year run during which it booked a record profit on booming demand for its Wii console and DS portable device.
But in other news....
http://stillprintingmoney.y...
In other news...Nintendo still makes more money than Sony and MS own gaming divisions even after the slide.
the fad begins to fade...
they now make only bajillion gazillion dollars in profits :(
Everyone who wanted a wii now has wii, and thanks to the PS3 and 360 price cuts.. people are looking towards them.
The wii was great for the games industry, it was a gateway drug for many soon to be gamers who now want a 360 or PS3.