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Nintendo Shares Fall To Lowest In Six Years After 3DS Price Cut
Nintendo Shares Fall To Lowest In Six Years After 3DS Price Cut
July 29, 2011 | By Mike Rose




Nintendo saw its share price fall to its lowest in nearly six years following the announcement that its 3DS console will receive a price slash next month.

The company said yesterday that it will reduce the price of the handheld console from its current suggested retail price of $249.99 to $169.99 from August 12 in the U.S.

According to financial news site Bloomberg, the industry giant's stock plunged 12 percent to 12,290 ($158.57) at the close of Osaka Securities Exchange on Thursday.

Nintendo has not seen its stock drop so greatly since January 2009, and it has not been this low since November 2006 -- the same month and year that Nintendo launched its market-leading Wii in North America.

Hiroshi Yamauchi, formerly president at Nintendo and currently the company's largest shareholder with a 10 percent stake, reportedly saw the value of his stock fall by 24.2 billion ($312 million).

The last time Nintendo saw such a rapid fall in share prices was just after the reveal of its Wii U console at its E3 conference.

Following on from the price cut, Nintendo modified its financial forecast for the current fiscal year ending March 31, 2012, reducing its expected profits for the fiscal year by a hefty 81.8 percent.

Nintendo was also quick to note that current Nintendo 3DS owners are its "most important customers," after acknowledging that some fans may lose faith in the company.


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Comments


Marcus Miller
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If the 3DS does not sell now, they have no excuse. Sales should go through the roof.

warren blyth
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uh? same system it was yesterday. same lack of games. anyone who rushes out to buy it will be confronted by lack of killer software.

i don't see the change.



I think this is preparation for the holiday season (which is when i'd predict sales will go through the roof - as the games arrive).

Nick Kinsman
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I'm intrigued that this caused Nintendo stock to drop so much. :s

On the plus side, it's perhaps becoming a better and better time to invest a few dollars in Nintendo. I might not like the Wii U much myself, but I expect it WILL sell well.

Jamie Mann
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The price has dropped so much because at the moment, the 3DS is the only thing Nintendo has going for it:



1) Wii hardware sales are dropping and software sales have been soft for a long time

2) DS hardware sales are dropping and software sales are also declining

3) The Wii U isn't due to be released for approx. 18 months



All told, unless Nintendo can drastically turn around the 3DS fortunes, they're pretty much going to be dead in the water until Winter 2012...

Eric Geer
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Nintendo shouldn't have lowered the price, but rather added some sort of bundling--Like a game and 10 or 20 dollars to use at the eStore--it would give people an incentive to spend the same amount of money up front--without devaluing the 3DS.


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