Wii U Sales Indicate $228 Million Loss for Nintendo; 3DS Continues to Keep Company Afloat
Nintendo announced their third consecutive operating loss as March 31 marked the end of the fiscal year. During that period the company lost approximately $456 million.
According to Polygon, Nintendo's net loss was $228 million. Last year the company made $71 million. Net sales were $5.63 billion, which was a 10 percent decrease.
While the Wii U console has continued to struggle only selling slightly over six million units, some of its exclusives have sold well. Super Mario 3D World, New Super Mario Bros. U, and New Super Luigi U have each sold over a million games, and Mario Kart 8 and Super Smash Bros 4 are expected to do the same.
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The 3DS has been much better, selling 12.4 million in the last year, and 67.89 million in total. The sales were helped in part by the release of Pokemon X and Y which sold over 12 million units.
Polygon reported, the 2DS sold over 2.2 million.
Over the next year Nintendo is projected the Wii U will move 1.2 million consoles and the 3DS will sell 6.7 million handhelds.
Just last month, Nintendo's president and CEO Satoru Iwata has received the lowest approval rating by his board since taking over.
According to IGN, Iwata had a 92.9 percent rating from Nintendo's shareholders in 2011. Last year, that number dropped to 77.3 percent, which is most likely due to the company's inability to make money off of the Wii U console.
Nikkei reported that Iwata along with a number of other Nintendo execs have collectively decided to cut their pay until the company is back and kicking. The other directors will get a 20 to 30 percent pay cut, and this will be effective from February to June. Iwata will be losing 50 percent of his pay.
