Nintendo warns of full-year loss on weak Wii U, 3DS sales

Reuters News
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Posted: Jan 17, 2014 1:42 AM

TOKYO (Reuters) - Nintendo Co said it expects an operating loss of 35 billion yen ($336 million) for the year to end-March, reversing its previous forecast of a 100 billion yen profit, citing much weaker-than-expected sales of its Wii U and 3DS game machines.

Nintendo on Friday also warned of a net loss of 25 billion yen for the year ending on March 31, a substantial reversal from its prior projection of a 55 billion yen profit.

Nintendo President Satoshi Iwata will hold a news conference at 4:30 p.m. (0730 GMT) in Osaka regarding the estimated losses.

The company slashed its global Wii U sales forecast for 2013/14 to 2.8 million units from 9 million, and its 3DS sales forecast to 13.5 mln units from 18 mln units.

(Reporting by Chang-Ran Kim; Editing by Edmund Klamann)