No Wii party for Nintendo
FROM VARIETY: Japanese vidgeoame giant's profits fall 52%
By Marc Graser of Variety -- Video Business, 10/30/2009
OCT. 31 | FROM VARIETY: Nintendo's bottom line has taken a beating from plunging sales and the recent price cut on its popular Wii console.Profits at the Japanese videogame giant fell 52% during the first half of its financial year to $768 million on a 34% drop in sales of nearly $6 billion, the company said of the April-September period.
Weaker sales overall have plagued the videogame biz during the recession, with the industry down 13% for the first nine months of the year.
The Wii has been the bestselling console since its launch in late 2006, but with sales declining this year, Nintendo cut the price of the Wii by $50 to $200 in September.
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