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Nintendo posts first quarterly operating loss; 3DS now just $169.99

Updated 4 years ago
Published Jul 28th, 2011 8:33PM EDT

Nintendo posted its first quarterly operating loss ever on Thursday in its fiscal first quarter earnings report. The Japanese gaming company recorded a net loss of 25.5 billion Yen ($328 million), which was on a par with the net loss of 25.2 billion Yen ($324 million) the firm reported during the same quarter last year. In addition, it posted a net operating loss of 37.7 billion Yen ($485 million), down from an operating profit of 23.3 billion Yen ($299 million) during the first quarter of 2010. Nintendo also slashed the price of the 3DS to $169.99, down from the portable gaming console’s original $249.99 price point. Nintendo attributed the poor quarter to a lack of Wii and DS sales, as well as a lack of attractive games for the 3DS.