Nintendo slashes dividend forecast on expected full year loss

Christmas shoppers did little to revive the languishing sales of Nintendo's Wii U.

Lower-than-expected console and games sales brought a very disappointing Christmas for the world's largest video-game machine maker, which has cut its forecast for the financial year to a net loss of 25bn yen (£147m).

The company had been expecting full-year net profit of 55bn yen (£323m).

Its dividend forecast has been lowered to 100 yen per share, compared to the earlier forecast of 260 yen per share.

"We can no longer expect our financial performance to recover in the current fiscal year", said Nintendo in a statement.

The Japanese firm has also dropped its projections for the Wii U console. Its year-end software sales were, it said, much lower than expectations.

Rising popularity in smartphone and tablet gaming is making it far harder for Nintendo to sell its hardware and software.

Instead of licensing out its games to be used on smartphone and tablet use, it's persevered with keeping its software on its own consoles in order to bolster its hardware business.

But today's news suggests that may have not been the best way forward. Here are the company's sales results: