Nintendo Slashes Profit Forecast and 3DS Price

Daetrin writes "Nintendo has announced a large loss for the first quarter of the year and lowered its annual profit forecast. In the three months prior to June 30th Nintendo lost 25.5 billion yen ($328 million) and the forecast is being reduced about 80%, from 110 billion yen ($1.4 billion) to 20 billion yen ($257 million). Nintendo is blaming poor sales of the 3DS and is responding by announcing a price cut from $250 to $170 on August 12. In order to mollify early adopters of the system Nintendo also announced that anyone who has logged into the Nintendo eShop before the price cut will receive 10 free NES games and 10 free GBA games. The GBA games won't be available until later in the year, but Nintendo claims they will be exclusive to the '3DS Ambassadors' and will not be available for purchase on the store in the future." A related op-ed at Wired suggests the new price is still too high, given the rise of cheap portable games on various app stores.