Nintendo Co. this week recorded a $460 million loss for the fiscal year amid lower-than-expected sales of the Nintendo 3DS handheld and the Wii console.
For the 2011 fiscal year ended Mar. 31, the company held an operating loss of $461.2 million.
In the year it sold 9.8 million Wii consoles, down from an estimate of 13 million, and 13.5 million Nintendo 3DS handhelds, down from a target of 16 million.
It shipped about five million Nintendo DS units.
Nintendo said it is selling the Nintendo 3DS, which includes glasses-free 3D technology, at below cost and expects to cost-reduce the product to profit by next year.
New titles like the Kirby Anniversary Collection for Wii and New Super Mario Bros. 2 for the Nintendo 3DS should hold demand for the platforms in the near term.
Nintendo will release the Wii U, the successor to the Wii, by this holiday season. The hardware, which includes a new tablet controller, will be detailed at the Electronic Entertainment Expo in June.