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Nintendo Shares Plunge To Record Low

Nintendo's shares plunged over the last two-weeks in Osaka trading after the company posted a loss in the last quarter following foreign exchange rate charges and declining demand for its DS hand held console.

Shares in the company dropped as much as 2.6 per cent, Nintendo's biggest loss since 16 July.

The company reported a loss of 25.2 billion yen ($291 million) at the end of the second quarter 2010, less than the 42.3 billion yen profit they recorded for the same period last year.

Nintendo also said that they have booked a loss of 70.5 billion yen due to a foreign currency related issue.

The Kyoto-based company reported a drop in the sales figures for its Nintendo DS hand held gaming device, citing limited and no new game titles as the reason behind the drop.

Last month, Nintendo had reported a 33 per cent decline in the US sales of the device.

The company is relying on sales of its new 3DS 3D gaming device and the launch of the 'Vitality Sensor' heart tracking utility for is Wii gaming console to improve the otherwise poor financial year.