Nintendo Predicts Loss for Fiscal Year

Nintendo has updated their financial forecast to show a loss for the business fiscal year; Starting March 31st, 2013, ending March 31st, 2014. Originally Nintendo expected to move 9 million Wii U's during the year, that prediction is now 2.8 million. If that number holds true through March 31st, 2014, the Wii U would move around 6.25 million during its lifetime.

The sales champion of 2013 is not exempt from the lower forecast. Nintendo originally expected to move 18 million for the 3DS, that forecast now is 13.5 million.

Overall software sales will also miss the mark. Nintendo expected the Wii U to move 38 million games and the 3DS 80 million. The forecasts now are 19 million for the Wii U and 66 million for the 3DS.

This all adds up to Nintendo estimating net sales of 590 billion yen, ($5.7 billion) which is down from the original 920 billion yen, ($8.8 billion) which will result in an operating loss of 25 billion yen ($239.6 million) compared to a projected 100 billion yen gain. ($527.2 million)

Read Full Story