Pingie: HTTP:: Nintendo Is Expected to Have Its First Profit Decline Since 2004

HTTP:: Nintendo Is Expected to Have Its First Profit Decline Since 2004
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A nine-month revenue of $17.1 billion is a big number even for corporate giant Nintendo. Not only that, but the company even expected another big holiday season with figures to further increase its revenues. But as time progressed, their expectations weren't met and by July sales fell by 40 percent and profits by 60. Now, Bloomberg expects Nintendo to revisit their predictions regarding total income, but to also announce their first profit decline since 2004 when they launched the DS platform. Bloomberg put together the predictions of ten analysts and the average result was that Nintendo's net income would fall by 11 percent, down to ¥249.3 billion, or $2.5 billion. These numbers are expected to materialize by the end of the fiscal year, the end of March 2010. In Satoru Kikuchi’s opinion, Nintendo's regress is caused by "sluggish sales in the first half [of the year], the price cut for the Wii and currency-related impact. Nintendo may cut its profit projection about 30!
percent." The Deutsche Bank AG Tokyo analyst is just one of the people Bloomberg relied on when it reached its final conclusion. These numbers follow the latest report from NPD, which showed that the Wii and the PlayStation 3 took advantage of the US price cuts and increased their sales. On September 27 the Wi...
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http://news.softpedia.com/news/Nintendo-Is-Expected-to-Have-Its-First-Profit-Decline-since-2004-124901.shtml
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