Nintendo expects FY loss to deepen to £535m

Nintendo has slashed £370 million off its estimated results for the full financial year.

The group startled investors last quarter by projecting a £165 million loss for the twelve-month period ending March 31st. But in today’s Tokyo meeting the firm predicted the loss would deepen to £535 million.

Substantial discounts made on the 3DS handheld, as well as the natural decline of Wii sales, were thought to be responsible for plunged revenues.

Sales are expected to be down from £6.5 billion to £5.5 billion.

Nintendo sold about 11.5 million 3DS units in nine months between April and December, though the system appears to have picked up momentum in recent months.

Software sales for the period were 28 million units – giving the system a rough tie ratio of two games per system.