News: Nintendo To Miss Sales and Profit Target?

Nintendo today announced it is cutting its profit outlook by 10%. Ouch!

Today Nintendo of Japan announced it expects to make 10% less profit than previously announced. The company also said it expects to fall short of selling six million GameCubes in the business year ending March 31.

"We are not changing our GameCube sales target, but there is a definite possibility that we might fall short by around one million units," Nintendo Senior Managing Director Yoshihiro Mori told a news conference in Osaka, western Japan.

It also cut its operating profit estimates by nine percent to 105 billion yen and sales forecast by seven percent to 510 billion. Last year, Nintendo scored an operating profit of 100.1 billion yen on sales of 504.1 billion yen.


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