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Publisher once again misses its sales estimates; pledges 3DS and Wii U will return it to profitablity.
Nintendo continues to lose incredible sums of money, even as the company's new portable dominates the Japanese market and its reported losses were less than its previous estimates. For the 2011 fiscal year (April 2011 through March 2012), Nintendo posted a historic first-ever net loss of $530 million dollars.
Hardware sales didn't quite hit Nintendo's estimates posted just three months prior, which were themselves revised downward from previous expectations. Globally the Nintendo 3DS sold 13.51 million units, Wii sold 9.84 million units and the DS 'family' sold 5.1 million units. Previous estimates were 14 million 3DSs, 10 million Wiis and 5.5 million units DSs. Software sales for the year were 36 million, 102.37 million and 60.82 million units respectively (3DS, Wii and DS 'family').
Accompanying these results, Nintendo released this statement: "While [Nintendo] did post a loss for the recently completed fiscal year, the continuing momentum of the Nintendo 3DS and the global introduction of the highly-anticipated Wii U home console will drive the company back into profitability in the current year." In a separate release, the company forecast a net profit of $245 million for the upcoming year.
Nintendo further clarified that by the middle of its current fiscal year (approx. August 2012), the 3DS will no longer be sold below cost. The company noted New Super Mario Bros. 2, Animal Crossing and a new Brain Age series title are on the way, with the latter coming to Japan sometime this summer.
Nintendo executives will be discussing the company's financial performance as well as plans for the future in an investor's presentation the morning of April 27 in Japan (that's tomorrow afternoon PT here in the United States). Stay tuned to IGN for any breaking news.
Nintendo continues to lose incredible sums of money, even as the company's new portable dominates the Japanese market and its reported losses were less than its previous estimates. For the 2011 fiscal year (April 2011 through March 2012), Nintendo posted a historic first-ever net loss of $530 million dollars.
Hardware sales didn't quite hit Nintendo's estimates posted just three months prior, which were themselves revised downward from previous expectations. Globally the Nintendo 3DS sold 13.51 million units, Wii sold 9.84 million units and the DS 'family' sold 5.1 million units. Previous estimates were 14 million 3DSs, 10 million Wiis and 5.5 million units DSs. Software sales for the year were 36 million, 102.37 million and 60.82 million units respectively (3DS, Wii and DS 'family').
Accompanying these results, Nintendo released this statement: "While [Nintendo] did post a loss for the recently completed fiscal year, the continuing momentum of the Nintendo 3DS and the global introduction of the highly-anticipated Wii U home console will drive the company back into profitability in the current year." In a separate release, the company forecast a net profit of $245 million for the upcoming year.
Nintendo further clarified that by the middle of its current fiscal year (approx. August 2012), the 3DS will no longer be sold below cost. The company noted New Super Mario Bros. 2, Animal Crossing and a new Brain Age series title are on the way, with the latter coming to Japan sometime this summer.
Nintendo executives will be discussing the company's financial performance as well as plans for the future in an investor's presentation the morning of April 27 in Japan (that's tomorrow afternoon PT here in the United States). Stay tuned to IGN for any breaking news.
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