Nintendo quarterly profits plunge 61%

Thu Jan 26 2012, 08:40 AM

Nintendo suffered a 61% drop in operating profits quarter on quarter to JPY40.9bn (USD527.1m), missing even pessimistic analyst expectations, with the firm blaming a strong yen and weak sales for the poor results. The firm has also cut its annual forecast, predicting an operating loss of JPY45bn (USD580m) for the year ending March due to strong competition from the rivals including motion-sensing add-ons Microsoft’s Kinect or Sony’s Move.

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