news\ Sep 27, 2011 at 4:17 pm

Nintendo Profits Down 75%

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Nintendo has released its financial results for the first nine months of the current financial year, revealing a staggering 74.3 percent drop in net income ($603 million) compared to last year's rake ($2.3 billion).

Nintendo has attributed the drop to exchange losses totaling ¥84.4 billion "primarily caused by reevaulation of assets in foreign currencies."

40.22 percent of revenues were from software, with 59.6 percent from hardware. Despite the origins of the company, North America flashed the most bling with 46.8 percent of sales, greatly overshadowing 31.8 percent from Europe and Japan's 16 percent.

2011 should prove to be even more interesting with the launch of the 3DS and stiff competition from Apple all year leading up to the release of Sony's NGP this holiday season.

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