Nintendo shares hit following loss warning
Nintendo shares fell as much as 18 per cent in Tokyo on Monday before regaining some of the losses to close down 6.2 per cent.
Investors were reacting negatively to Friday's announcement that Nintendo had slashed its annual Wii U sales forecast from 9 million to 2.8 million units, a dramatic reduction that will swing its full-year results from profit to loss.
Monday's share decline is the company's biggest drop since September and wipes $1.2 billion off its market value, Bloomberg reports.
Nintendo is doing plenty of soul-searching in light of its recent abject commercial performance.
"We cannot continue a business without winning," Nintendo president Satoru Iwata said on Friday. "We must take a sceptical approach whether we can still simply make game players, offer them in the same way as in the past for 20,000 yen or 30,000 yen, and sell titles for a couple of thousand yen each."
The executive, who has no plans to resign, also said: "We are thinking about a new business structure. Given the expansion of smart devices, we are naturally studying how smart devices can be used to grow the game-player business. It's not as simple as enabling Mario to move on a smartphone."
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Source: http://www.computerandvideogames.com/445950/nintendo-shares-hit-following-loss-warning/
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DissPosted:
Folk They are loosing money because people won't buy WII U's because they are so expensive.
I wouldn't say it's because it's expensive. Yes that is a factor but I believe it's because people would much rather want a different console.
DJMarkyMarkPosted:
It seems like Nintendo has just been on a constant downhill slope ever since the Wii was released.
MoBoPosted:
TCWCraigyyLoopeddaRealRush It would be great if Mario, was to move to smartphones!
If Mario switches to smart phones the amount of money they will make from that is unreal. They should really consider that move...
They should yeah, they'd make hella money off of phone. Pitch that idea to them and ask for a percentage.
And this is what they're doing. They're really considering the smartphone market, as that's the cheapest but most effective avenue they can take. They're most likely going to do that, as making "another console" isn't going to solve their problems.
Ahh but it could solve their problems as they really need a life saver now and that could save their company from going bust. IMO, it is no where near a 'New Console' but it certainly will improve their market.
TRSNPosted:
CraigyyLoopeddaRealRush It would be great if Mario, was to move to smartphones!
If Mario switches to smart phones the amount of money they will make from that is unreal. They should really consider that move...
They should yeah, they'd make hella money off of phone. Pitch that idea to them and ask for a percentage.
And this is what they're doing. They're really considering the smartphone market, as that's the cheapest but most effective avenue they can take. They're most likely going to do that, as making "another console" isn't going to solve their problems.
DiscPosted:
LoopeddaRealRush It would be great if Mario, was to move to smartphones!
If Mario switches to smart phones the amount of money they will make from that is unreal. They should really consider that move...
i would buy it, that would take up alot of my time actually i love mario just hate the Wii
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