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Nintendo Cuts Profit Forecast

by on October 24, 2012

The first half of FY2013 hasn’t been good for Nintendo.

The company dropped its annual net profit outlook by 70 percent while reporting a first-half loss of $351 million. The loss was 40 percent more than expected.

Even with the Wii U launching, Nintendo only expects net profits to be $75.2 million. It originally estimated $251 million.

The reason for the changes were weaker 3DS hardware and software sales overseas, and the yen appreciation increasing.

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