From a report on Bloomberg, Nintendo’s net loss grew to 70.3 billion yen (US$925 million). This is the company’s first net loss in 30 years.
The main reasons for the loss include a strong yen and weakened software sales. Back in July, Nintendo predicted a net profit of of 20 billion yen.
One thing that may have contributed to this has been the less-than-stellar sales of the Nintendo 3DS. Although the handheld is the only glasses-free 3D device, consumers weren’t as intrigued as they were for the original Nintendo DS.
Nintendo had to then promptly slash the price of the 3DS to see if sales figures pick up. In any case, if Nintendo hopes to make a profit within the next year or two, 3DS sales should rise and its Wii U should create as much hype and attention as the original Wii console.
It’s going to be a tough road considering Sony will be releasing the PS Vita really soon and the likes of tablets and android phones growing in popularity as each day goes by.