{"id":395940,"date":"2011-04-25T08:13:19","date_gmt":"2011-04-25T08:13:19","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/25\/nintendo-annual-profits-slump-66\/"},"modified":"2011-04-25T08:13:19","modified_gmt":"2011-04-25T08:13:19","slug":"nintendo-annual-profits-slump-66","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/25\/nintendo-annual-profits-slump-66\/","title":{"rendered":"Nintendo annual profits slump 66%"},"content":{"rendered":"

25 April 2011<\/span> Last updated at<\/span> 04:13 ET<\/span><\/span><\/p>\n

Video games giant Nintendo has seen its annual profits slump by 66%, hurt by a strong yen and a drop in sales.<\/p>\n

Net profit for the year to the end of March came in at 77.6bn yen ($945m; \u00a3570m), compared with 228.6bn yen the previous year, its results showed<\/a>.<\/p>\n

The company said that while it had not suffered any direct damage from last month’s earthquake, it expected it to weigh on consumer spending in Japan.<\/p>\n

Nintendo also announced that it will release a successor to the Wii in 2012.<\/p>\n

Net sales fell 29% to 1.014 trillion yen.<\/p>\n

Nintendo also faces a growing challenge from smartphones and tablets. In a bid to fight back, it launched the 3DS, a handheld console that provides a 3D experience for users without the need to wear special glasses.<\/p>\n

The company said the device, which launched in February in Japan and in March in the US, Europe and Australia, had a “smooth start in sales”, which totalled 3.61 million worldwide.<\/p>\n

In a separate statement,<\/a> Nintendo said it had decided to launch a system to succeed the Wii next year.<\/p>\n

It will give a demonstration of the new model at the E3 Expo in Los Angeles in June.<\/p>\n<\/div>\n

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\nNintendo annual profits slump 66%<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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