Nintendo turns slight profit yet latest console sales disappoint

 
Oliver Smith
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VIDEO games company Nintendo reported slightly improved results yesterday as the firm managed to turn a modest profit in the six months to 30 September.

The company turned an improved profit of ¥600m (£3.8m), up from its loss of ¥28bn during the same period last year, but revenues fell to ¥196.5bn.

Nintendo last month dropped the price of its latest Wii U games console to better compete with rivals Sony and Microsoft, however the company reported an unchanged forecast of 9m Wii U consoles in the year to March 2014.

“The Wii U hardware still has a negative impact on Nintendo’s profits, owing mainly to its markdown in the US and Europe,” said Nintendo.

The company added that the additional costs had been incurred on its business, “due to enhancements in advertising activities to increase sales, and research and development for the Wii U software among others”.

Nintendo’s share price fell 1.5 per cent in Tokyo on news of the results to close at ¥11,220.