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Nintendo backtracks on profit forecast after slow holiday sales

17
Jan
2014

Throughout the past year, Nintendo CEO Satoru Iwata has maintained his belief that the company will turn an operating profit of ¥100 billion yen, even in the face of disappointing Wii U sales. Nintendo also now only expects to sell 2.8 million Wii U consoles this financial year, down from an estimated total of 9 million. Nintendo admits that it failed to sell as much software as it had hoped for over the holiday season due to the fact that hardware sales did not reach their expected level. The profit estimate always looked optimistic, so the revision wont come as a surprise to many.

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