Nintendo Posts Massive Losses

Nintendo has reported a loss of $456 million (near enough £268 million) for the last financial year. In a rather massive miss of their predicted £320 million profit.

It doesn't take a genius to realise that the main culprit for the loss is the WiiU console. It's not sold in the numbers Nintendo expected and the statement by EA that the WiiU won't run the new version of frostbite cannot have helped the lack of sales of the console when combined with a lack of titles.

Nintendo sold just 310,000 Wii U units in the fourth financial quarter, down from 450,000 units, which it sold in the three months ending in March 31st last year

Nintendo have released a statement saying:

The net sales were lower than expected due to the fact that the sales units of the Nintendo 3DS hardware, and the Wii U hardware and software did not reach their expected levels.

The operating loss increased from the forecast due to the increase in inventory write-down and research and development expenses compared with the forecasts in addition to the decrease of net sales.