Nintendo announces major losses

The news for Nintendo is bleak. Sales are down 50% year-to-year. They posted a first quarter loss of $327 million. They’ve dropped their profit forecast by 82%. And they’ve slashed the price of the 3DS 32% in dollars (even more in yen). As a gamer with a DSi XL and a Wii, none of this particularly surprises me. Nintendo have made a series of disastrous mis-steps. Problem #1 is that they gave up on serious gamers.