Nintendo's Quarterly Profit Slips on Lacklustre Video Game Sales

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Nintendo's Quarterly Profit Slips on Lacklustre Video Game Sales
Nintendo Co. reported a 36 percent drop in quarterly profit on Tuesday after lacklustre video game sales for the year-end holiday shopping season.

The Japanese manufacturer of Super Mario games and the Wii U game machine earned JPY 29.1 billion (roughly Rs. 1,636 crores) profit for the October-December fiscal third quarter, down from JPY 45.2 billion a year earlier.

The Kyoto-based company, which suffered a blow when its charismatic president Satoru Iwata died in July last year, kept its annual forecasts unchanged at a JPY 35 billion (roughly Rs. 1,968 crores) profit on JPY 570 billion (roughly Rs. 31,911 crores) sales for the fiscal year through March.

Quarterly sales slipped 18 percent to JPY 221.5 billion (roughly Rs. 12,221 crores).

For the nine months from April through December, Nintendo said global sales of the Wii U reached 3.06 million units. It's aiming to sell 3.4 million of the machines through March.

Among the company's Wii U game software that recorded strong sales were "Splatoon" and "Super Mario Maker." It said "The Legend of Zelda: Twilight Princess HD" will be introduced and will likely contribute to sales growth.

The 3DS handheld machine fared better, with Nintendo selling 5.88 million during the nine months. The company projected 7.6 million in sales for the year through March. "Animal Crossing: Happy Home Designer" was a hit game for the hand-held platform, according to Nintendo.


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