Nintendo's Profits See 18% Drop For 2010 Financial Year

According to the company financial reports Nintendo's profits for the 2010 financial year have dropped by 18%. Their total net income for the year ending March 31st 2010 was 228.6 billion yen (equivalent to £1.6 billion) but was still a decline of their previous year's profits.

Some of the reasons given for declined sales include the price reduction of the Wii, fewer must-have releases on the Wii for the first half of the financial year and the current strength of the yen currency. Nintendo had this to say on the matter:

"Through the expansion of 'Nintendo Zone', a service utilising the wireless function of Nintendo DS, Nintendo will continue to provide unique content such as free downloadable Nintendo DS software and Nintendo Wi-Fi connection, which enables players to enjoy games together with their distant friends."

"In addition, Nintendo's strategy is to achieve the ultimate worldwide objective of 'must-have for everyone' rather than 'must-have for every family'. Nintendo will enrich consumers' daily lives with features such as information services at cultural facilities, commercial establishments and more."

I would certainly say that the lack of true must have games recently would be a large contributor to dipped profits as although I do intend to pick No More Heroes 2 up this month I currently can't see anything on the horizon right now to buy. That and people finding ways to play copy games on their Wiis and DSs as well will also contribute to less income for Nintendo. Still, they do seem to be on top of the market so it can't be too bad for Nintendo after all (but I'm no businessman either, so...)