Nintendo loses $220 million in 1st quarter of 2012
Times are tough for Mario and friends these days. It seems like just yesterday Nintendo was riding high on the Wii wave, but now, things are quite different. The gaming giant reported a net loss of $220 million. That’s better than last year’s 1st Q loss of $332 million, but certainly not where the company wants to be. Looking for culprits, you wouldn’t think to blame the 3DS, but Nintendo says sales of the handheld system “only reached” 1.86 million from January through March. Strange language considering global sales of Nintendo 3DS hand-held game hardware increased 162 percent over 2011.