It’s a bit of a funny time for Nintendo, isn’t it? The storming success of the Wii has been somewhat quelled by the Xbox 360 and, while the 3DS is finally gaining steam, it’s also suffered a huge price cut that has surely dealt a big blow to profits.
As such, the company has predicted bigger losses than expected for the end of its financial year, Eurogamer reports. While Nintendo originally forecasted a $20 billion yen loss for the year ending March 31, that’s now been raised to as much as 65 billion yen ($838 million/£534.87 million).
The overall loss for the current year leading up to December 2011 stands at 48.3 billion yen. During the same period in 2010 the company made 49.5 billion yen.
A strong yen causing havoc with western currency exchange rates is reportedly to blame, as well as fewer console and game sales.
On the plus side, the 3DS has sold over 15 million units now, which is a lot better than some would have predicted shortly after its lackluster launch. Still, it’s not the 16 million itself that Nintendo expected to sell in this financial year alone. Expectations have now been scaled back to 14 million sold.
The Wii is currently sitting pretty on 94.97 million, over 8 million of which were sold in this fiscal year.
With the Wii U confirmed for a 2012 launch, this could be the most significant – and risky – year in the company’s long history.