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Nintendo Wii U Sales Disappoint

30 Jan, 2013 By: Chris Tribbey

Nintendo sold just over 3 million units of its new Wii U console during its launch during the fiscal third quarter of 2012 (ended Dec. 31), and expects to sell only a million more in the fourth quarter, causing the gaming company to lower its earnings forecast for the full year.

The company had expected to sell 5.5 million Wii U consoles during the fiscal year. Nintendo actually sold more of the older Wii units during the quarter, with 3.53 million units sold. During the nine months ended Dec. 31, 2012, Nintendo sold 12.71 million units of its 3DS mobile hardware system.

The news came as Nintendo Jan. 30 reported net sales of 543 billion yen ($5.96 billion) for the nine months ended Dec. 31, and a nine-month profit of 14.54 billion yen ($158 million). The company did not break out fiscal third-quarter numbers.

Wedbush Securities analyst Michael Pachter wrote in a note to investors that Wii U sales won’t be enough to improve Nintendo’s long-term results.

“In our view, current releases for the Wii U are unimpressive (as reflected in the low SKU count and reviews), and with no Nintendo first party software releases in January or February, the Wii U’s prospects are not likely to improve during this fiscal year,” he wrote.

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