Nintendo Continues Downward Spiral with 3rd Consecutive Annual Loss

You know that “ow ow ow” sound that Mario makes when his butt is on fire? I should cue that sound up right about now, because 2013 marks the third year in a row that Nintendo suffered an annual operating loss.

As the Wii U continued to underperform, Nintendo found themselves $457 million in the red with a net loss of $228 million. Nintendo sold 310,000 Wii U consoles in the quarter that ended March 31st, which marked a 20 percent drop off from the same time last year. The console has sold a total of 6.17 million consoles worldwide.

Nintendo doesn’t expect to be down for long, returning to the black in their 2014 fiscal year, expecting to make $394 million off of the Wii U and 3DS. Keep in mind that up until January of this year, Nintendo CEO and President Satoru Iwata stuck with the prediction that the company would earn almost $1 billion in 2013, until finally changing that prediction to a 35 billion Yen loss, which was still off by more than 11 billion Yen.

Mario Kart 8 is set to release this month, which could produce an uptick in console sales. If it doesn’t, there may be no saving the Wii U at this point.

On the Sony end of things, despite the Wii U releasing a year prior to the PlayStation 4, Sony’s newest console has already moved 7 million units.

via The Verge

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