Nintendo's profit fell 60.6% over the past fiscal year.

This week, Nintendo published a report for the last fiscal quarter, in which the company announced a profit of $ 148 million for the past fiscal year, with a total revenue of $ 4.53 billion. On an annualized basis, the company's revenues decreased by 60.6%, which also affected the value of the company's shares - they fell in price by 0.9% to $ 18.72. According to the company's forecasts, next year profit will fall by 1% to $ 4.49 billion, while operating profit will increase by 37% to $ 404.9 million.

One of the reasons for the fall in profits was the declining demand for the Nintendo 3DS gaming console due to competition with tablets and mobile devices. To reduce this effect, Nintendo also began to release mobile games in partnership with DeNA, but so far such projects of the company have not become very popular. According to AppAnnie, the total number of Nintendo mobile project downloads was approximately 3 million.
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In the course of the announcement of the financial results, the company also announced the release of a new console, the Nintendo NX, which is due out in March 2017.

“We also expect the release of well-known projects from third-party publishers. The launch of these game titles will be able to attract a new audience, as well as activate the old one. These projects will be able to provide additional coverage due to the interest of female and young audiences.

In the future we are not going to be limited to video games only. We plan to offer new services in theme parks with characters from Nintendo. Our company also plans to increase user interaction with characters from Nintendo games in real life, ”the company said in an official document.

Despite the poor performance of the last quarter of Nintendo, investors showed a low-key response - the company currently has almost $ 4.8 billion of free funds in the account, which will allow it to stay afloat for many years with a competent approach.