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Nintendo maintains forecast for profit decline

The gaming market is vast and top game titles can make as much money as leading Hollywood movies. The gaming market also thrives on hardware sales of consoles and accessories. For the last several years, Nintendo has been at the top of the gaming hierarchy with its Wii and DS game systems.

In October 2009, Nintendo reported that sales of the Wii were down 43% compared to 2008. The reduced sales of the Wii forced Nintendo to cut its sales forecasts for the year. Sales of the DS portable console were also down 15% over the same period. Nintendo has now announced its Q3 financials and profits are down 23%.

The gaming company is also sticking to its forecast for the first annual profit decline in four years. Nintendo still maintains that the operating profit forecast for the year through March will be 370 billion yen. That number will be much less than the 555.26 billion yen profit that it posted a year earlier.

In the quarter spanning October to December, Nintendo moved 11.3 million Wii consoles, up 8% from the same quarter of the previous year. The DS sold 11.7 million units compared to an almost identical 11.9 million the previous year. Nintendo shares have declined 17% over the last year.





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