Nintendo’s decision to cut the price of its 3-D handheld gaming system Nintendo 3DS caused no small amount of discussion late last month, and now that the new price point has been in effect for a few weeks, we’re finally starting to see some results from the company’s bold move.
Shares of the Japanese company’s stock increased by 8.44 percent this morning, with investors showing confidence that the recent 3DS price cut and upcoming slate of titles for the troubled system would fuel recovery.
The price of Nintendo stock currently sits at around 13,100 yen ($171), and though this is a significant increase since the company’s troubles first started making made headlines, it’s still well below the 25,000 yen ($326) mark the stock traded at before the launch of the 3DS in February.
The company previously slashed its profit forecast for the upcoming year to 35 billion yen — a mark that would give Nintendo its lowest profits since 1985. Prior to all of the 3DS issues, the company projected a profit of 175 billion yen for the year.
The rise in stock prices wasn’t the only good news for Nintendo recently, though. As we reported last week, sales of the system in Japan have taken off in the wake of the price cut, returning the system to the top of the charts in that country.
While it’s still a bit early to suggest that the company’s problems are a thing of the past, Nintendo fans and shareholders should certainly be pleased with any indication of a positive trend for the company, given its recent marketplace problems.
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