Nintendo Lowers Wii Forecast
Nintendo's earning report for the six months ending September 2009 indicate a drop in net sales from 836,879 million to 548,058 million yen (approximately $9.3 billion to $6.1 billion) year-over-year. The report cites the appreciation of the yen and the Wii price cut as factors in the 34.5 percent drop. The sales forecast for the Wii from April 2009 through March 2010, previously estimated at 26 million, has been cut to 20 million.
Japanese gaming blog andriasang translated a Reuters report of a press conference last week in Osaka in which Nintendo CEO Satoru Iwata said, "With the price drop, sales returned to a certain level, but they just did not reach the level of last year around this time. We decided that it would be difficult to sell enough to recover from the poor performance of the first half of the year."
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