Nintendo has recently announced that it has lowered its earnings estimate for the year ending on March 31st. Nintendo blames this for disappointing sales of its Nintendo Gamecube hardware. Nintendos net profit originally was 80 billion yen, but it has turned out to be only 66 billion yen ($550 million). Nintendos sales forecast has dropped from 600 billion yen to 500 billion yen. Nintendo ended up achieving a net profit of 106.4 billion yen compared to sales of 554.89 billion yen in 2001. Nintendo initially estimated 10 million Gamecube sales before March 31st, but only ended up being 5.6 million consoles that were sold.
Gamecube sales were bad worldwide said Nintendos chief financial officer Yoshihiro Mori at a news conference in Osaka.
