Nintendo shares plunge following meager Wii U sales
Last Friday, Nintendo admitted
that it now projects losses for the current fiscal year, due to poor Wii U console sales. Unsurprisingly, the company's shares have plunged since then.
As reported by the BBC, Nintendo's share price dropped
by 18 percent as Monday trading drew to a close, falling as low as 11,935 yen ($114.65) on the Tokyo Stock Exchange.
To put this into perspective, when Nintendo's share price fell to its lowest in six years
back in 2011 as a result of the Nintendo 3DS price slash, that "lowest" was 12,290 yen ($158.57).
The company's shares continued to fall at that point, although they've since been gradually clawing their way back up again, reaching 15,580 yen ($149.66) earlier this month
. Of course, this latest news has now seen them come crashing down again.
As a result of this latest fiscal warning, Nintendo president Satoru Iwata admitted that the Japanese company is considering how it could potentially embrace the mobile market