Nintendo Slashes Earnings Forecasts Following 3DS Release Announcement
3DS release conditions cited alongside appreciating yen as reason for cuts.
Citing "release conditions for the 3DS" as one reason, Nintendo announced today a downward revision its sales and earnings forecasts for the fiscal year ending March 31.
While the company previously expected operating income of 320,000 million yen on 1,400,000 million sales, it now expects 210,000 million yen operating income on 1,100,000 million yen sales.
In a statement today, the company listed four reasons for the cuts:
- The stronger-than-expected yen appreciation
- Current sales performance
- Sales outlook for the holiday season
- Decided release conditions for the Nintendo 3DS
While the statement did not provide further clarification, the last bullet point could be an indication that Nintendo had originally planned to get the 3DS out this calendar year rather than in February.