Nintendo posts first ever losses

NINETENDO has posted its first-ever quarterly operating loss, cut the price of its 3DS handheld game player and slashed its full-year profit forecast far below market expectations, hit by sluggish sales and a strong yen.

The weak result confirmed investor fears that the video games maker is too focused on hardware when the market is shifting toward software, with games played on the internet and on smartphones seen as key drivers of industry growth. Doubts that it can replicate the success of its Wii console have also dampened enthusiasm for the company’s stock.