Nintendo Cuts Forecast as Smartphone Games Hurt Console Demand
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Nintendo Co., the world’s largest maker of video-game machines, cut full-year profit and sales forecasts as free titles on smartphones and tablets dissuade consumers from buying separate gaming devices.
Annual sales of Nintendo’s flagship 3DS handheld player, introduced last year, will be 17.5 million units, 5.4 percent lower than previously estimated, the company said in a statement yesterday. Nintendo also lowered its forecast for 3DS software sales by 4.1 percent and said it will sell its new Wii U model at a loss.