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Friday, 7th May 2010
In Japan Entertainment News,

Nintendo hit by falling profits

Japanese gaming firm Nintendo has been hit by falling profits on the back of lower sales of its popular Wii games console.

According to figures from the group, it has suffered a full-year net profit drop of some 18 per cent.

It is the second year in a row that the gaming firm has posted smaller profits and it noted that falling sales of Wiis was partly to blame.

Nintendo estimated that its Wii sales will fall from 20.5 million to 18 million in the year ending March 2011.

The news follows a number of console price cuts from rival gaming and electronic firms Microsoft and Sony. Both companies have reduced the prices of their popular gaming consoles, the Xbox 360 and Playstation 3 respectively, which could be helping them reduce Nintendo's domination of the market.

The Wii is noted as the most popular gaming console for those who may not usually be interested in video games, as it appeals to both young and old due to its variety of games.

Written by Kimberley Homer.

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