Nintendo Trims Red Ink, Lowers Forecast For Year

By: The Associated Press
By: The Associated Press

Nintendo Co. trimmed its red ink for the fiscal first half to a 28 billion yen ($350 million) loss but the Japanese game maker lowered its sales and profit forecasts for the full year ahead of the launch of its new Wii U home console.

Nintendo, which did not break down quarterly results, had reported a 70 billion yen loss for the April-September period last year.

Nintendo, the maker of Super Mario and Pokemon games, has been hard hit by the arrival of smartphones and other nifty mobile devices that are luring people away from machines largely devoted to games, such as Nintendo's Wii console and handhelds such as the Nintendo 3DS.

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