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Nintendo cuts profits forecast after 3DS price drop

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Nintendo 3DS
Nintendo has cut its financial profits forecast for the fiscal year ending March 2012 by 82%.

The company today revised its profit forecast from ¥110 billion (£864 million / $1.41 billion) to ¥20 billion (£157 million / $257 million). Nintendo cites the Nintendo 3DS price drop, as well as its sales outlook for the holiday season and stronger-than-expected yen appreciation, as the reason for the change.

Earlier today, Nintendo announced that the price of the Nintendo 3DS will drop by a third across the globe, a move that is unprecedented for the company so soon after a new hardware launch.

In addition to the 3DS price cut, Nintendo is giving 3DS early adopters ten NES and ten Game Boy and Game Boy Advance games free exclusively before other users. Confirmed titles in the US include The Legend of Zelda, Super Mario Bros, Yoshi's Island: Super Mario Advance 3, Mario Kart: Super Circuit, Metroid Fusion and Mario vs. Donkey Kong.

The Nintendo 3DS price cut follows a disappointing launch, with less than half a million systems sold in both the US and Japan. The European launch was more successful, breaking the sales records of both the Wii and DS for the region.

Nintendo also announced this morning that it will rename Super Mario 3DS and Mario Kart 3DS as Super Mario 3D Land and Mario Kart 7.

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