Nintendo Profit Drops; Wii Weakening
Nintendo this week reported a profit of $426 million, which represented a 66 percent drop from the same period last year.
According to Reuters, the drop was attributed mostly to weakening demand for the Wii console, which nonetheless remains the top console in the U.S. by a comfortable margin. The company, however, warned that the growing popularity of the iPhone could cut into its mobile gaming business.
Analysts quoted by Reuters predicted that demand for the Wii will rise again heading into the holidays.