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Nintendo forecasts $335M operating loss; Wii U flop ‘likely’ to trigger sell-off

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After cutting its Wii U global sales forecast by nearly 70 percent after a dismal holiday season, Nintendo forecasts that it will likely operate at a loss of 35 billion yen (roughly $335.76 million) at the end of its fiscal year ending in March, according to a report today from Reuters.

Nintendo slashed its Wii U projections from an expected 9 million units sold in 2013 down to just 2.8 million units sold. The company also lowered expectations for 3DS sales from 18 million to 13.5 million.

The failed Wii U experiment, according to one analyst, likely will cause share holders to sell off their Nintendo stock after the disappoint sales of the Wii successor.

"The fact that the 'Wii U strategy' has failed is disappointing and will likely trigger a sell-off as soon as the market opens," said Makoto Kikuchi, chief executive of Myojo Asset Management.

Nintendo president Satoru Iwata apologized to shareholders at a meeting in Osaka, Japan, but added that he would not step down from his post.

You can read that full Examiner report by clicking here.

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