Andre Yoskowitz
29 Jan 2009 15:56
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.