Nintendo cuts annual profit forecast, but they still expect to rake it in

Nintendo cuts annual profit forecast on strong yen - Image 1Sony’s not the only one who’s suffering from the failing economy. Nintendo is the latest one to fall prey, cutting its annual net profit forecast by JPÂ¥ 65.6 billion (US$ 664 million).

They’re still rich though.

Nintendo cuts annual profit forecast on strong yen - Image 1Sony’s not the only one who’s suffering from the failing economy. Nintendo is the latest one to fall prey, cutting its annual net profit forecast by JPÂ¥ 65.6 billion (US$ 664 million).

They’re still rich though. They still expect to rake in JPÂ¥ 345 billion (US$ 3.5 billion) for the fiscal year.

It was only last month when Sony announced a 57% decrease on their earnings forecast. Compared to that though, Nintendo has it easy, since they only cut theirs by 16%.

Unlike Sony, whose problem is that consumers are losing interest in general electronic gadgets, Nintendo’s problem is the declining dollar. Aside from this though, there’s no shortage of demand for their consoles. Don’t know if I can say the same for supply though.


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Via Associated Press

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