Striding into informed meta-prediction territory, several Tokyo-based analysts have suggested that Nintendo may cut its earnings forecast in preparation for a decline in profits -- the first in six years. According to a Bloomberg report, Nintendo's adjustments will be prompted by slowing Wii sales and a stronger Yen.
Scheduled to report earnings on October 29th, Nintendo is expected to indicate an 11 percent fall in net income to 249.3 billion yen (nearly $2.75 billion) for the fiscal year. Soichiro Fukuda, a Tokyo-based Citigroup Inc. analyst, expects "a large downward revision" from the manufacturer in the form of a 29 percent profit drop to 201 billion yen (roughly $2.2 billion).While the figures make for dry reading, they illuminate the altered landscape in which Nintendo and its products now compete. Standing atop a wobbling economy, the games industry now hosts a revitalized PlayStation 3 and a Wii that brings in fewer dollars -- the only thing that hasn't changed, of course, is our desire to buy the DS again and again.Read | Permalink | Email this | Comments