Nintendo's lack of hit games hits profits hard

Despite Nintendo’s attempts to lower expectations ahead of announcing its financial results, its latest quarterly earnings aren’t good. Net sales are down 31 percent compared to the same quarter last year, down to 62 billion yen ($587 million), while it saw an operating loss of 5.1 billion yen (roughly $48 million). The games maker managed to sell 220,000 Wii Us, nudging the total number of consoles sold over 13 million, while the aging 3DS sold just under an additional 1 million handhelds. Despite Nintendo owning parts of Pokemon Go, it isn’t reflected in the report as the game was released after the quarter that ended in June. However, the company took to Twitter to announce that its curious Pokemon Go Plus accessory has been delayed two months til September.

The games maker is blaming a stronger yen that’s negatively affected overseas sales, while there’s also been no major games out in the last quarter — no single game sold more than a million copies over the last three months. 36.9 million Amiibo figures have been sold so far, as well as over 30 million Amiibo cards — somehow.

Nintendo is very much back in the public eye following Pokemon Go’s explosive launch on smartphones — which Apple has said is the most downloaded app in one week ever. Then, there’s the coalescing rumors of Nintendo console sequel, which may be neither a home console or portable, but something in between.

Nintendo is still waiting on its next hit, whether that’s a new console, a smartphone game or the next Zelda game. The Legend of Zelda: Breath of the Wild was initially expected to launch last year, but has already been pushed to 2017 — just like the NX. There may be more bad news to come for Nintendo.

Source: Nintendo

Source: Engadget - Read the full article here

Author: Daily Tech Whip

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