NINTENDO REPORTS A DROP IN PROFITS FOR THIRD STRAIGHT YEAR
Nintendo has reported a drop in profits for the third
consecutive year, citing the strength of the Japanese yen and
price competition from overseas. Their profit for the FY ended
March 31 totaled $1.14B, down from $1.15B from the previous year.
Sales declined by more than 24%. Goldman Sachs analyst Naoko Ito
said Nintendo will continue to lose revenue as video game users
shift from its older machines to more powerful technology
(BLOOMBERG BUSINESS NEWS/N.Y. TIMES, 5/18). The company also
announced a trial project to supply British Airways with games
for passengers to play during flights (Dawkins & Rowsthorn,
FINANCIAL TIMES, 5/18).