Nintendo reports $24.7 million half-year loss

Nintendo reports $24.7 million half-year loss

Nintendo has suffered its first half-year loss in revenue in seven years, reporting a $24.7 million loss after its sales fell by 34 percent. The loss in sales for this half-fiscal year was caused by two main factors – the lower demand of the Wii console (since just about everyone now owns one) and the recent rise in ¬†popularity of Apple’s iPod Touch.

The prospect of sales increasing at the end of Nintendo’s fiscal year is not great. In fact, Wii sales are predicted to fall even further. Nintendo shares have fallen 0.7 percent.

Nintendo of America’s president stated that he saw the iPod Touch to be a larger threat than Microsoft’s improved Xbox 360 model, or the Playstation 3; and the delay of the 3DS handheld to some time in 2011 is not helping the company’s recovery.

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