Nintendo lowers annual profits due strong yen. by Milota Sidorova

Strong currency is a flashback for export oriented companies. And while China causes heart attacks to foreign businessmen with its unexpectedly low yuan, Japan currency does the opposite. Japan electronic company Nintendo labeled strong yen performance a reason for cutting down its profit forecast and annual sales projections. Though inventor of Super Marion Bros is a company of great importance its economy went to red numbers in June and carried on this trend until now. Nintendo has slashed down annual net profit about 55 percent from 200 billion yen (about $2.38 billion) to 90 billion yen. Sales should fall from projected 1.4 trillion yen down to 1.1 trillion. The loss ! however, is not created by the strategy of the company or its effectivity or the opposite, but the international financial situation. While the company based its original projections on the exchange rate of 95 yen per dollar and 120 yen per euro, the real rate is oscillating somewhere between 85-83 yen per dollar and 120-113 yen per euro. That caused the prices of popular console went down and lowered general profits. Kyoto based company has adjusted its numbers and quotes to the accurate situation. But has decided to postpone the launch of its new product Nintendo 3DS about two months and that way will miss the most attractive shopping season of Christmas. Nintendo 3DS enables users to see 3D images. The console required special glasses. Its Japan debut is scheduled on 26th February and will be launched to American and Australian customers in March. According to chief executive Satoru Iwata, the device will cost about 25,000 yen (290 dollars).

related story (sgx18298): http://www.france24.com/en/20100929-nintendo-postpones-3ds-c...

by Milota Sidorova for Cantell TV (http://cantell.tv)

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