Despite Nintendo dominating the Japanese game market last year, and the Wii U seeing a great boost in sales in the final month of the year, its latest financial results weren’t as impressive.
While Nintendo’s recent financial report brought with it a weaker forecast for the future, analyst Atul Goyal from CLSA thinks it’s even worse. He believes that Nintendo’s “core business is in bad shape and worsening”, according to an interview with CNBC.
In last week’s earnings report, Nintendo halved its operating profit target to $169.6 million, citing weak 3DS sales. As a result, Nintendo shares dropped over 7 percent in the wake of the announcement.
Wii U sales dropped 47 percent in the third quarter, and software sales were down 43 percent. That’s despite the blockbuster hit Super Smash Bros, which still managed to give the console boost in sales.
Analyst Goyal doesn’t think there’s a good future for the Wii U, calling it the “weakest console in the history of Nintendo, and it is getting worse”. He probably never heard of Virtual Boy.
