Nintendo has predicted that it will make a loss of ¥65 billion (around £535 million) for the 2011 fiscal year, which ends in March, but one ray of hope for the company is the confirmation that the next generation console, the Nintendo Wii U will arrive in all major markets in time for Christmas this year.
President of Nintendo, Satoru Iwata, told reporters today that the Wii U will arrive in the US, Europe, Australia and Japan in time for the crucial year-end shopping season.
However the rest of the news announced by Nintendo was not so rosy. Along with the larger loss, Nintendo also revised downwards its sales predictions for the 12 month period, stating that it now expects to sell 14m Nintendo 3DS units compared to 16m as previously thought.
Since launch Nintendo has sold 15 million of the dual-screen 3D handheld consoles, with Japan and the US the biggest markets, shifting 4.7m and 5.5m respectively since it launched in March 2011.
The predecessor to the Wii U, the highly successful Wii, which has sold a huge 94m units since it launched in 2006, is also seeing its sales slow down. Nintendo now expects to sell 10m in the 12-month period, compared to a previously expected 12m.