Nintendo Slashes Full Year Forecast

Nintendo Slashes Full Year Forecast

Nintendo has slashed its net income forecast for the business year ending March 31, 2011 by more than half, from 200 billion yen (£1.5b / $2.4b) to 90 billion yen (£679m / $1.1b).

Its full year sales guidance has also been reduced, from 1.4 trillion yen (£10.6b / $16.7b) to 1.1 trillion yen (£8.3b / $13.1b).

"The earnings forecast has been modified to reflect the trend of stronger-than-expected yen appreciation, current sales performance, the sales outlook for the holiday season and the decided release conditions for the Nintendo 3DS," the company said in a statement.

Nintendo cut its DS sales projection for the business year, including 3DS, from 30 million to 23.5 million units, while lowering its estimate for Wii sales from 18 million to 17.5 million units. During the previous year the systems sold 27.1 million and 20.1 million units respectively.

Its DS software sales forecast was reduced from 150 million to 125 million units, and Wii software sales estimate from 165 million to 135 million units. Last year’s totals were 152 million and 192 million units respectively.