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Nintendo cuts profit forecast

Written by Andre Yoskowitz (Google+) @ 29 Jan 2009 15:56 User comments (6)

Nintendo cuts profit forecast According to their latest earnings report, Nintendo is cutting their profit forecast by 33 percent for fiscal 2009, surprising many analysts and casual gamers alike.
It is clear to anyone who reads AfterDawn daily or reads the newspapers that the Nintendo Wii is the top selling console, by far, and supply always appears to be low while demand never diminishes. Their previous Q3 earnings results showed that sales were up 21 percent year-on-year from 2007.

In regards to the earnings report, Hiroshi Kamide, a KBC Financial Products analyst added: "Today’s revision suggests that the roaring pace of Wii growth that we’ve seen until now may be over. Perhaps something big has gone wrong, and that people are not buying the machines."

Tell that to the almost 2 million consoles sold in the US in the first 3 weeks of December only.

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6 user comments

129.1.2009 22:54

Maybe people are finally realizing that most games on the Wii are crap... I know I have... Just sits their on my shelf, collecting dust...

230.1.2009 11:17

Nintendo made the mistake of making a system that dosen't break in 5 years what where you thinking.

330.1.2009 15:46

Originally posted by DXR88:
Nintendo made the mistake of making a system that dosen't break in 5 years what where you thinking.
Haha. Pretty much any CE product nowadays breaks. That's why it's only a 1 year warranty, if you're lucky.

Originally posted by Morreale:
Maybe people are finally realizing that most games on the Wii are crap... I know I have... Just sits their on my shelf, collecting dust...
Really, was that necessary. I won't defend the shovelware or the good titles anymore, I've said enough, but the Wii is getting a large amount of exclusive titles and more devs/publishers are jumping ship to produce for the console, so the amount of kiddie crap and bad ports will be overshadowed in the near future. Let's hope the 3rd party stuff can be as successful as the Big N titles.

431.1.2009 17:37

Yes, "...supply always appears to be low while demand never diminishes..." Key word there is APPEARS! Nintendo are a big bunch of liars when it comes to their excuses about supply issues. They purposely and artificially keep supply low to inflate demand and not have to cut the price, while they always have THOUSANDS just sitting in warehouses waiting to trickle out. Maybe good marketing-wise for them, but it's wholly dishonest to apparently not care about the consumers that much.

531.1.2009 17:56

I'm just glad nobody here is spouting the whole "illegal flash carts are sending Nintendo down the drain! Wake up sheeple!!1!". Personally? Maybe it's the whole "Planet-wide recession" thing that's going on. People are tightening their belts.


~the Cyclo DS is a path to many powers some consider unnatural
~is it possible to learn this power?
~not from Nintendo

612.2.2009 16:26

Originally posted by delta36:
I'm just glad nobody here is spouting the Maybe it's the whole "Planet-wide recession" thing that's going on.

That was my thought too. Seems the most logical.

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