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Nintendo Cuts Profit Forecast
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.