Friday, July 29, 2011

AFTERMATH: One day after the 3DS price drop see who's suffering.

Yesterday Nintendo made the drastic move of announcing a price drop of their newest handheld, the 3DS. Today it seems that they are already feeling the immediate effects of that decision. Gameinformer is reporting that ex-president Hiroshi Yamauchi lost over $300 million due to the drop in his stock value! Reports are that Nintendo's stock dropped a massive 12% and Yamauchi owned 10% of the company.

And Yamauchi isn't the only one feeling the heat within the company. Current Nintendo president Satoru Iwata announced today that he would be taking a 50% pay cut in the wake of this decision.

Nintendo has also announced that they will now be losing money on every 3DS sold after the price cut. This shows just how desperate they really are to get the 3DS into consumers' hands before the Playstation Vita is released. AND to top it all off, earlier today rumor started to spread that the Vita would be coming out sometime around late October, putting them in the mix for the holiday season. If that's the case, Nintendo may have dug themselves too big of a hole to get out of in regards to the 3DS.


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