Nintendo Exec Predicts Significant Loss as Wii Sales Struggle

Satoru Iwata, president of Nintendo, says the company is experiencing its biggest loss in revenue in the last 12 years. The forecasted annual loss of 25 billion yen (or $240 million) was a surprise, and the video game manufacturer is considering a new business model because of the low demand for its Wii U. Nintendo’s previous estimation of profit was closer to 55 billion yen. But the altered forecast for Wii U sales was cut from 9 million to 2.8 million units. Continue reading Nintendo Exec Predicts Significant Loss as Wii Sales Struggle

Nintendo: Handheld Gaming Strong, Losing Money with Wii U

Gaming company Nintendo released its financial results for the last three months, and the numbers are not promising. Although hardware sales have increased and handheld gaming is experiencing growth, the company has still recorded a loss. As a result of price cuts in the middle of the year, 300,000 more Wii U users have been added, but the company is still far from its goal of 9 million consoles by March 2014. At present, 3.91 million units have been sold total. Continue reading Nintendo: Handheld Gaming Strong, Losing Money with Wii U

BlackBerry Selling Phones Directly After Bleak Earnings Report

If things weren’t already looking bleak enough for BlackBerry, the company released its latest earnings report on Friday. Second quarter results for the three months ending August 31 show revenue of $1.6 billion, down 49 percent from the previous quarter and 45 percent from the same quarter last year. The company also reported an adjusted loss of $248 million. And on the heels of a near $1 billion inventory markdown, BlackBerry announced it will start directly selling unlocked smartphones. Continue reading BlackBerry Selling Phones Directly After Bleak Earnings Report

Microsoft Impacted by Shift to Mobile and Declining PC Sales

Microsoft announced missing financial forecasts on Thursday, putting the blame on the decline of the PC market. The company also acknowledged disappointing sales of its tablet computer, the Surface RT. Mobile devices are affecting PC sales as more consumers are buying tablets instead of PCs for movie watching and basic computing. Microsoft is still gaining slowly in sales to business customers, and has hopes for cloud services. Continue reading Microsoft Impacted by Shift to Mobile and Declining PC Sales