Nintendo's rough time looks to be continuing as it was announced that it has suffered its FOURTH consecutive drop in operating profits (due to Wii price cut). Operating profit for the company fell a massive 23 percent from a year earlier.
Nintendo Co., the worldâ€™s largest maker of video-game players, reported its fourth consecutive drop in operating profit after a price cut for the companyâ€™s flagship Wii console squeezed margins.
Operating profit fell 23 percent from a year earlier to 192.3 billion yen ($2.1 billion) in the three months ended Dec. 31, based on nine-month results reported by the Kyoto-based company today. Net income rose 82 percent to 123.1 billion yen because of currency-related gains. </blockquote>
News Source: <A href="http://www.bloomberg.com/apps/news?pid=20601080&sid=aSalukUq51iM" target="_Blank">Bloomberg</a>