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Nintendo posts losses on strong yen, weak sales

Nintendo posts losses on strong yen, weak sales

January 26th, 2012 in News

TOKYO (AP) - Nintendo Co. sank into losses for the April-December period last year, battered by a price cut for its 3DS handheld machine and a strong yen that eroded earnings.

The Japanese video game machine maker behind Super Mario and Pokemon franchises reported Thursday a loss of 48.35 billion yen ($627.9 million) for the first nine months of the fiscal year ending March 2012.

That was a reversal from a 49.56 billion yen profit racked up the same period in 2010. Kyoto-based Nintendo did not break down quarterly numbers.