Nintendo on downward spiral as Wii sales fall off a cliff
Nintendo's financial troubles just keep coming.
The venerable game maker announced (PDF) today that it generated 84.8 billion yen (about $1.08 billion) in revenue during the three-month period ended June 30, representing a 9.7 percent decline from the 93.9 billion yen it secured in sales during the same period last year. The company was forced to incur a net loss of 17.2 billion yen ($220 million), which, while disconcerting, was actually better than the 25.5 billion yen figure from last year.
Nintendo's financial position becomes even more concerning when one considers its … Read more