Nintendo had high hopes that its Nintendo 3DS would bring the company out of the basement of the gaming world and bring it back to the glory days. Unfortunately, Quarter 2 results did not look so good for the company. Nintendo posted a total net loss of $324 million for Q2, a little more than their hit from last year as the same time. The bigger issue here is that Nintendo also reduced their sales forecast for 2010 by 82 percent, from $11.5 billion to a mere $257 million.
Because of this, Nintendo's stock dropped by a fifth of its value this week. As it turns out, 11,190 investors didn't seem to like an 82 percent decrease in sales projections. Nintendo is putting the blame on a lack of sales for the big titles on the Wii and 3DS.
So what is a company who is struggling to barely keep afloat this year to do after a disastrous financial report? Drop the price of their headlining handheld gaming device, of course! More details on that after the break.
Nintendo is now looking to shift its focus from price of a sale to trying to accomplish a black number at the end of the year in quantity of sales by dropping the price of the 3DS. As of August 12th, the 3D gaming system will be slashed by $80 from $249.99 to $169.99 here in the US.
Leave it to Reggie, Nintendo America's President, to lay a nice spin on the situation, though.
For anyone who was on the fence about buying a Nintendo 3DS, this is a huge motivation to buy now.
Obviously this is going to anger the early adopters, right? In a normal circumstance the answer would have always been an emphatic "yes!", however, because Nintendo usually doesn't aggressively cut prices so early in a product's lifecycle, they are going to show some love to those who bought early. If you logged into the eShop at least one time before the drop in price, you will be rewarded 10 NES virtual console games September 1st and 10 more Game Boy Advance virtual console games that the public won't have access to. You'll get the Game Boy games by the end of the year, and all 20 of the titles will be on the house, courtesy of Nintendo.
The good news here is not just that the ones who paid an extra $80 get some exclusive gaming goodness, but that the investors still have a little bit of hope left. Nintendo still expects to sell 16 million 3DS units in this financial year, and that could easily be achieved with the new reduction in price on the device. Let's hope so, as the Vita is getting to come out of the gate at full throttle and could hinder Nintendo's goal to stay out of the red, and hopefully stick around at least long enough to launch the Wii U.
We have the press release below and the financial info in the source link. We want to know: Do you own a 3DS, are you getting one now that the price is good or are you waiting for Vita? The comments section is where you can answer.