Video game console maker Nintendo Corporation on Wednesday announced its quarterly earnings revealing a slump in the sale of its 3DS handheld gaming console.
According to the Wall Street Journal, Nintendo has informed that the company has suffered surprise loss during the second quarter ended June 30 due to unexpected low sale of its highly ambitious launch Nintendo 3DS.
The company has reported a net loss of £201 million between April and June a little higher from the losses reported by the company for the same time period last year. The company has blamed absence of famous gaming titles from its content list for the poor sales of 3DS.
Keeping in mind the current scenario, Nintendo Co. has estimated a 82 percent low down in its forecast when compared to the amount estimated earlier, for March next fiscal year.
Nintendo has sold only 710,000 3DS consoles ever since it was launched, which is far below the number expected by the developers. To compensate the losses and compete with the upcoming PlayStation Vita from the house of Sony, Nintendo has decided to cut price of its console worldwide, starting from August 12 in Japan.
"For anyone who was on the fence about buying a Nintendo 3DS, this is a huge motivation to buy now," Nintendo of America President Reggie Fils-Aime said in a statement.