Nintendo Posts Better Than Expected Loss for 2011, Focuses on Digital Downloads
Nintendo have posted a better loss result than they originally forecast for total year sales.
Nintendo previously assumed they would lost 65 Billion Yen (AU$777 Million), but thanks to a slightly stronger US dollar and Euro, the total loss for the year ending March 31, 2012 was just 43.2 Billion Yen (AU$512 Million).
The company are gearing up for a new console launch this year; Wii U, which Nintendo says it will launch at the end of this calendar year in North America, Japan and Europe. The company is also ramping up it’s digital download offerings with Nintendo 3DS and Wii U via it’s eShop and the Nintendo Network.
Nintendo have also launched it’s 3DS console in Asia recently, and expects that console to return to profit by the end of this calendar year. The major hits to Nintendo’s financial results were the Japanese Yen exchange rate, and the fact it is selling the Nintendo 3DS under manufacturing cost.
Despite Nintendo’s loss this year, it will still pay a minimum of 100 Japanese Yen (AU$1.18) per share to shareholders.