Nintendo Announces Poor Q1 Earnings, Offers 3DS Price Cut After Weak Sales
July 28, 2011 10:05 AM
comment(s) - last by
Nintendo President Satoru Iwata
The 3DS price will be cut from $249.99 to $169.99 on August 12
Nintendo has had an exciting year so far with the release of its portable Nintendo 3DS and the announcement of the Wii U console. But after releasing its
fiscal first quarter results
today, Nintendo saw very few financial highlights.
According to Nintendo's Q1 financial results, it posted a net loss of 25.5 billion yen ($324 million) in the quarter ending June 30, 2011. During the same quarter one year earlier, the net loss was 25.2 billion yen. Its operating income was at 37.7 billion yen in the April to June 2011 quarter, up from 23.3 billion yen in April to June 2010.
Nintendo is clearly having a rough time, and it
blames the poor sales
of both the 3DS and Wii titles for its financial downfall. According to its financial report, 710,000 3DS units have been sold between April and June 2011, bringing the total number sold to 4.32 million (830,000 in the U.S. total). This was a major disappointment for Nintendo, considering it was hoping to sell that many within the first weeks following the 3DS' launch in March 2011.
To remedy this, Nintendo is slashing the
price of the 3DS
from $249.99 to $169.99 starting August 12.
In addition, Nintendo will offer anyone with a 3DS that connects to the Nintendo eShop via wireless connection a chance to be registered in the
Nintendo 3DS Ambassador program
. All the 3DS owner has to do is connect to the eShop at least once before 11:59 p.m. ET on August 11.
Once registering as a 3DS Ambassador, users can download 10 NES Virtual Console games starting September 1, before they roll out to the public. This includes games like "Donkey Kong Jr.," "The Legend of Zelda," and "Super Mario Bros." Even when the paid versions of these games are released to the general public, they will remain free for Ambassadors.
Before the end of the year, Nintendo will give Ambassador's another 10 free picks from the Game Boy Advance Virtual Console catalogue, which features games like "Super Mario Advance 3," "Yoshi's Island," "Metroid Fusion," and "Mario Kart." For this particular perk, Nintendo adds that these titles will never be released to the general public, making it a special offer for Ambassadors only.
"For anyone who was on the fence about buying a Nintendo 3DS, this is a
huge motivation to buy one
now," said Reggie Fils-Aime, Nintendo of America president. "We are giving shoppers every incentive to pick up a Nintendo 3DS, from an amazing new price to a rapid-fire succession of great games."
Even with such incentives, Nintendo's recent financial loss prompted it to reduce its annual profit forecast 82 percent to 20 billion yen ($257 million) for the fiscal year to March 2012.
This article is over a month old, voting and posting comments is disabled
RE: *phone ringing* Hello, Nintendo?
7/29/2011 2:53:09 PM
I can't believe you're complaining about getting free games old or not.Nintendo doesn't owe early adopters anything they knew what they were getting into.I'm glad they're giving me 20 free games,i'm going to download them all bad or not.And i'm actually looking forward to playing some of those games again.
"My sex life is pretty good" -- Steve Jobs' random musings during the 2010 D8 conference
3DS Sales Unimpressive; Nintendo President Says Poor Launch Lineup is the Cause
July 11, 2011, 11:06 AM
Nintendo 3DS Launch Date/Price Confirmed
January 19, 2011, 7:18 PM
Amazon Exec on Fire Phone: “We didn’t get the price right”
October 31, 2014, 8:22 AM
Moto 360 to go "Champagne Gold" for $299, According to Amazon Listing
October 30, 2014, 3:24 PM
Call-capable Samsung Gear S Smartwatch Launches Nov 7 in U.S.
October 30, 2014, 12:45 PM
Lenovo Completes $2.91B Acquisition of Motorola
October 30, 2014, 11:57 AM
Samsung Electronics Q3 Profit Falls by 60%, Mobile Division Sees 74% Profit Decline
October 30, 2014, 10:10 AM
Microsoft's $199 Fitness Band Packs in 10 Sensors, Works with Windows Phone, iOS, and Android
October 30, 2014, 8:58 AM
Most Popular Articles
Amid Theater Boycott Netflix Defiantly Plans New Movies, Plus 3 TV Shows for 2015
October 24, 2014, 7:30 PM
AT&T Defeats Purpose of New Apple SIM, Locks iPad Air 2 SIMs to Its Network
October 24, 2014, 2:17 PM
CVS, Rite Aid Kill Unofficial Apple Pay Support, Burn Google Wallet Users in the Process
October 25, 2014, 5:26 PM
1 Million Credit Card Activated on Apple Pay Within 72 Hours, Walmart CEO Hopes Visa "Suffers"
October 28, 2014, 8:17 AM
Microsoft's Figures Show Desktop Users Flocking to Windows 10 Preview
October 27, 2014, 11:04 AM
Latest Blog Posts
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information