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Nintendo posts loss of $350 million for six months ending September

24 Oct 2012 by John Robertson
Nintendo posts loss of $350 million for six months ending Septembernintendo small

For the six months ending 30 September 2012 has recorded a net loss of $350 million. The disappointing results follow weaker than sales of consoles and software.

Income and sales forecasts have proved to be too high, with estimates from Nintendo in April stating that the loss was expected to be $250 million. However, while $350 million is certainly no drop in the ocean, the company’s fortunes have improved from the same period last year in which it made a loss of $880 million.

During the six month period up until the end of September, 5.06 million 3DS units had been sold–taking lifetime sales of the console to 22 million. The same period saw Wii sales hit 1.32 million, with lifetime sales at 97.2 million.

Sales of the 3DS have been lower than expect in overseas markets, says Nintendo. The company also states that theĀ appreciationĀ of the yen has results in exchange rate losses of $290 million.

The console giant claimed that yen appreciation alone caused exchange losses of $290 million.

Nintendo has forecast that for the year ending March 2013, following the worldwide launch of the Wii U, it expects to post a net loss of $75 million.

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