Nintendo Co. this week cut fiscal year profits and sales forecast amid lower-than-expected handheld sales and pending release of the Wii U console.
The company this week cut annual sales of the Nintendo 3DS by 5.4 percent to 17.5 million units. In addition, it lowered 3DS software sales by 4.5 percent.
Nintendo lowered full-year net income by 70 percent to six billion yen, or $75 million. It previously estimated net income at 20 billion yen.
For the first half of the fiscal year, Nintendo held revenue of $2.5 billion, down from $2.7 billion one year ago. It posted a loss of $359.8 million compared to a loss of $880.7 million one year prior.
The company is betting on strong demand for the company’s next console, the Wii U, which employs a new multi-functional Wii U GamePad controller with a 6.2-inch touchscreen.
In addition to gaming, the Wii U GamePad can be utilized to display content to the controller screen, including games and streaming entertainment software like Netflix, Amazon Instant Video, and Hulu Plus.
The Basic Set will include the Wii U console and the Wii U GamePad in White, 8GB storage, AC adapters, HDMI cable and Wii U sensor bar at $299.99.
The Deluxe Set will include the Wii U console and Wii U GamePad in Black, 32GB storage, GamePad Charging Cradle, Stands for the GamePad and Console, AC adapters, HDMI cable, and Nintendo Land at $349.99.
Both SKUs will be sold Nov. 18.