Games giant Nintendo has reduced its full year operating profit target after a significant drop in sales during its third quarter. Sales of 3DS consoles fell by almost 40% during the period. Although its operating profit grew by nearly 50% during the quarter, the company has still made the decision to reduce its full year target. The company now expects to make 20bn yen over its financial year, down from 40bn yen.
Shares went down by almost 9% in Tokyo following the profit warning. It has reduced its console sales target by 25% to 9 million following the 3DS’ sales fall. Sales of the latest 3DS were high in Japan, but the console failed to take off elsewhere, said the company.
“However, as sales of the Nintendo 3DS hardware in the United States and in Europe did not grow sufficiently, the global sales of the Nintendo 3DS family hardware were 7.08 million units” said the company in a statement.
The company has been facing competition from the likes of Sony and Microsoft, with mobile games growing in popularity. It’s thought that the company are ready to post their annual operating profit for four years. The weakness of the yen is likely to inflate its net income profit.
Have you grown up playing Nintendo games? Have you bought a 3DS recently? Let us know below.
