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article imageNintendo reports loss of $132 million

By Owen Weldon     Jul 25, 2012 in Business
During its first fiscal quarter, which ended on June 30, Nintendo reported an operating loss of over one-hundred million dollars.
The company reported an operating loss of $132 million. Wii sales have not really increased but instead sales for the Wii have dropped quite a bit.
According to Venture Beat, now gamers are looking forward to the launch of the Wii U console, which the company plans on releasing later this year. The results of the report shows the peril of transitions from a product generation to the next product generation.
According to Forbes, Nintendo is hoping that the Wii U will be just what the company needs to start making profits again. Since the Wii has fallen in sales many people are wondering about the company's future.
According to Game Bus, regardless of the loss the company is optimistic about its future. Nintendo is predicting that they will rake in a net profit of around $800 million.
Nintendo also had a disappointing loss last fiscal year when the Nintendo 3DS was being sold at a loss. The company did figure out a way to stop losing money on 3DS sales by cutting selling expenses as well as administration expenses.
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