Andre Yoskowitz
25 Apr 2013 0:08
Nintendo revealed its quarterly earnings this week, and it is becoming clear that the Wii U is a disaster for the company.
For the fiscal year ended March 31st, the company's revenue was just ¥635.422 (£4.2bn), 5 percent below their own forecast. Net income collapsed to ¥7,099m (£420.8m) for the most recent quarter, leading to a yearly loss of ¥60,863m (£403m), the company's second loss in as many years following a decade of strong profitability.
Nintendo specifically cited the yen and weaker than expected sales of the Wii U for their results.
The Wii U has only sold 3.45 million units since launch in November. The old and market saturated Wii sold 3.98 million units in the same time period. For the last quarter, only 300,000 Wii U were sold, a devastatingly low number.
Nintendo expects sales to pickup as a bevy of new games are set for release soon.