Nintendo Halves Profit Outlook on Weak 3DS Sales, Strong Yen
- The maker of Mario games cuts net income forecast 51%
- 3DS sales outlook reduced 13 percent to 6.6 million units
Pikachu plush toys.
Photographer: Yuriko Nakao/BloombergThis article is for subscribers only.
Nintendo Co. halved its annual profit outlook on weak sales of 3DS handheld players and the impact of a stronger yen, highlighting the importance of making the company’s smartphone debut next month a success.
Net income will be 17 billion yen ($151 million) in the year ending March, the Kyoto-based company said in a statement on Friday. That’s 51 percent below its previous target and compares with the 35.2 billion yen average of analyst estimates compiled by Bloomberg. Nintendo cut its 3DS sales outlook 13 percent and kept the forecast for Wii U console sales unchanged.