Nintendo Q3: Forecasts down on ¥48 billion net loss

Nintendo's has lowered its forecasts for FY2012 after reporting a net loss of ¥48.3 billion loss for the nine month period ending December 2011, compared to a profit of ¥49.5 billion in the previous corresponding period.

Nintendo's net sales were at ¥556.1 billion for the period, down from ¥807.9 billion in the same nine months in 2011. It now expects a full-year loss of ¥65 billion.

Sales for the year are now predicted to be at ¥660 billion, down from a previously expected ¥790 billion.

The reason for the losses are said to be price-cutting on 3DS and Wii, as well as the strength of the yen.

In the same period, Nintendo sold 11.43 million 3DS units worldwide. Wii sold 8.92 million - down from the 13.72 million units this time last year - and DS hardware sold 4.64 million, down from 15.7 million units. Cumulatively, 3DS has now sold 15 million units, Wii 94.9 million units and and DS 151 million units.

Nintendo now expects to sell 14 million 3DS units for the financial year, down from an expected 16 million units, and 10 million units of Wii, down on the original estimate of 12 million.