Nintendo Profits Fall by 43 Percent

Reuters is reporting that Nintendo's profits have sunk by as much as 43-percent due to the decline in GameCube sales.

While this is bad news for Nintendo, they still managed to announce an increased sales forcast for the new DS handheld, up by 20 percent to 6 million units sold by March.

“DS software is not selling because users are playing the pre-installed PictoChat game. Even if they buy a game, multiple players can use it to play against each other, eliminating the need for each to buy their own game,” said Nintendo Senior Managing Director Yoshihiro Mori.

That seems to only be part of the reason we think. Many new game releases were pushed back into the next business year which certainly does not help things.

Nintendo also cut their Gamecube sales forecast by 12.5 percent.

Source: LockerGnome