Tokyo
– Nintendo posted a 9.4% decline in earnings and 23% drop in revenues for the
first three-quarters of its fiscal year, ended Dec. 31. The decline was blamed
in part on the recession, a price cut for its Wii console, and a leveling off
of demand for the DS, a platform that is now five years old. Nintendo reported
revenue of $13.1 billion for the nine-month period, and earnings of $2.1
billion.
The company sold 11.3 million Wii consoles during the last three
months of 2009, an increase of 8% on the same period a year earlier, while DS
sales were 11.7 million, down from 11.9 million.
Nintendo expects to report an
annual profit of $4.1 billion for its fiscal year ending in March, down from
the $6.1 billion it reported for the prior year, but still above the $4 billion
projected by analysts.
The company projects its annual Wii sales to top 20
million by March, a drop from the 25.9 million it sold in its last fiscal year,
while DS sales are expected to reach 30 million.
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(Reuters)
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(VentureBeat)
