Nintendo Co. this week posted a Q1 loss amid weak sales of the Nintendo 3DS handheld.
Between Apr. and June the company held a net loss of $324 million. For the fiscal year ending Mar. 2012, it expects a profit of $257 million, down 82 percent from a prior forecast.
The company was hurt by weak demand for the Nintendo 3DS. It will price cut the 3D-enabled handheld by 40 percent in Japan and to $169.99 from $249.99 in the U.S. beginning Aug. 12.
The company said the hardware, which began sale Mar. 24, has sold 4.32 million units worldwide and 830,000 units in the U.S.
Nintendo in Apr. said the Nintendo 3DS sold 3.61 million by end of the fiscal Mar., below the company’s four million unit projection.
Users who login with a wireless broadband connection prior to Aug. 11 will be included in the Nintendo 3DS Ambassador program to allow current owners to download 20 free games from the Nintendo eShop, including 10 NES Virtual Console titles and 10 Game Boy Advance Virtual Console titles.
Nintendo in July began offering streaming functionality by Netflix Inc. and a short-form video service to view 3D movie trailers, comedy clips and music videos will be enabled in the future.
The company in July released a new system update for the Nintendo 3DS.
Nintendo released Nintendo 3DS handheld launched with 18 software titles Mar. 27.
Third-party titles include Super Street Fighter IV 3D Edition, The Sims 3, Madden NFL Football, Pro Evolution Soccer 2011, LEGO Star Wars III: The Clone Wars, Ridge Racer 3D, Super Monkey Ball, Bust-A-Move Universe, Samurai Warriors, Asphalt 3D, Combat of Giants, Rayman 3D, and Tom Clancy’s Ghost Recon Shadow Wars.
Titles carry an MSRP of $39.99 each.
The Nintendo 3DS includes two screens, a 3D Depth Slider, a Circle Pad, and a 2GB SD Card.
Functionality includes StreetPass to exchange game data between owners who pass one another.
Additionally, the hardware will include the Nintendo 3DS Camera software, Mii Maker, and the Nintendo eShop to download new software.
Nintendo 3DS includes 3-D display technology that does not require the use of special glasses.
In addition, the 3DS is backwards compatible with Nintendo DS and DSi games.