Nintendo reports losses in the first quarter and cuts full-year expectations by 82%.

There's an old saying that nothing good lasts forever and it seems Nintendo's profit streak is beginning to dry up. Following on from years of tremendous success with the DS and Wii it seems as Nintendo is in a transition period, with the 3DS still establishing its stride and the Wii about to be replaced by the Wii U, its profits have faltered a bit. MCV is reporting that Nintendo has been hit by big losses in the first quarter and they have lowered their expectations for the year.

Nintendo is, of course, still doing well. In spite of just announcing a price cut for the 3DS the console isn't doing as badly as some would let you believe. It has been the biggest selling console in Japan for the last two weeks and with titles such as Super Mario 3D Land and Mario Kart 7 out later in the year things should hopefully improve.

Nintendo suffered a 7.7bn� (�338.1 / �296.2 million) loss in the first quarter and cut expectations for the fiscal year, ending March 31st 2012, down 82 percent from 175bn� to 37.7bn�. They also estimated that net income may reach 20bn� by the end of the fiscal year, down from the previous estimation of 110bn�.

The company notes that lower than anticipated sales of the 3DS since its launch have contributed to today's news. In fact the 3DS has been outsold by both the original DS and Wii consoles following its worldwide release. While Nintendo are focusing on pushing the 3DS through the aforementioned worldwide price cut and a range of new games it seems this fiscal year may be Nintendo's worst for some time.