Analyst: “Something big has gone wrong” at Nintendo [Update]

By Patrick Garratt, Thursday, 29 January 2009 22:39 GMT

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Update: Kamide’s clarified this comment here.

Following news of a major check in estimated yearly profits from Nintendo today, one analyst has predicted the firm will face serious trouble at the end of its financial year. That’s the quarter ending March 31 this year.

“Today’s revision suggests that the roaring pace of Wii growth that we’ve seen until now may be over,” KBC Financial Products analyst Hiroshi Kamide told the Times.

“The numbers also imply that we are going to see a sudden collapse in the fourth quarter from record margins to some of the thinnest margins Nintendo has experienced for three years.”

The downgrade could imply that “they know something big has gone wrong, and that people are not buying the machines,” Kamide added.

Is this it? The end of the waggling, stylus-driven dream? Place your bets now.

Thanks, GoNintendo.

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