Gaming giant Nintendo has posted a nearly one billion dollar loss for the six month period ending September 30th, reports Electronista, and expects to post their first annual loss in more than three decades.
The company has netted a lost of $70.27 billion yen (about $923 million) in the first fiscal half, which they blame on a variety of factors, including declining Wii sales and a weak global economy. They also blamed one other factor – the iPhone and other mobile platforms.
Nintendo President Satoru Iwata acknowledged that smartphones and tablets are taking up more of consumers’ leisure time, although what he doesn’t note is that much of this is due to the fact that smartphones and tablets are not only more capable than game consoles – the games are also substantially less expensive.
While this may be Nintendo’s first big loss in 30 years, I think it’s safe to say that it won’t be their last.
