Nintendo swings back to profit on weak yen
Nintendo said Wednesday tepid sales of its Wii U console dented its bottom line, although it swung back to profitability in the six months to September thanks to a sharply weaker yen. The firm said net profit for the half-year period came in at 600 million yen ($6 million), reversing a 28 billion yen loss a year earlier, but it still logged an operating loss of 23.3 billion yen. Sales fell 2.2 percent to 196.6 billion yen.
Nintendo launched the Wii U late last year with high hopes it would repeat the original Wii console’s blockbuster success. But analysts said a lack of games took away some of the fizz the company had been hoping for after the 3DS had initially suffered from disappointing demand abroad.
Fierce industry competition will escalate this season as Sony releases its PlayStation 4 and Microsoft rolls out its Xbox One. Nintendo, maker of the Donkey Kong and Super Mario brands, has been locked in war with its rival for dominance of a sector worth about $44 billion a year.... Read the full, comprehensive news article and discuss at CitizenSimilar Stories