The stock market is a finicky thing. In a statement released on Friday, Nintendo CEO Satoru Iwata revealed that Nintendo would experience a net loss of 35 billion yen over the fiscal year, and drastically lowered its sales forecasts across the board for all platforms, with the Wii U and 3DS now predicted to sell 2.8 million and 13.5 million units respectively, down from 9 million and 18 million. As a result, company shares dropped from $17.96 to $14.90 in a single day, a decrease of 17%.

Speaking to
reporters however, Iwata affirmed that
he is under no pressure to leave the company as a result of Nintendo’s poor financial result.


Source: Nasdaq

No
ChannelImages
Our Verdict

Nikola Katardjiev
You can contact me at [email protected] Hello, my name is Nikola and I'm Gamnesia's Content Director. My job on this site involves managing all our weekly content, and ensuring that they have a timely release date, but I also contribute with the daily news grind and the occasional editorial. I've grown up with video games, but have only recently taken an active interest in writing and discussing them at a deeper level. My history with games has been very Nintendo-focused, but my tastes have changed a bit over time and I now mostly do my gaming on my PC. If you're interested in my work, you can read a small selection below: Assassin's Creed Unity And The Death of 30 FPS Games Are not Ready to be Art The Rise of PC Gaming: How Valve Conquered a Digital World How Fear of Change Set Console Gaming Back

    Comments

    Leave a reply

    You may also like

    More in News