Nintendo Racks Up $24.7 Million Half-Year Loss

Posted by at 9:51 am on October 28, 2010

Nintendo has reported its first half-year loss in seven years. For the six months to September 30, the Japanese gaming firm reported a $24.7 million loss. This was on the back of its sales slipping by 34 percent, in part due to lower demand for the Wii console.

Many analysts also believe the losses due to the Apple iPod touch effect on the DS.When questioned about the Apple effect recently, Nintendo of America’s President Reggie Fils-Aime told Forbes that Apple’s iPhone and iPod were “absolutely” larger threats than the strong sales of Microsoft’s recently revamped Xbox 360.

Nintendo’s forecast for the full financial year are just as grim, with sales of its Wii console expected to slip further.

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