Nintendo’s profit is down a staggering 23%.  Nintendo’s profit is down mostly due to price cuts to the Wii console and slower software sales for the DS handheld;

Profitability came under pressure also because Nintendo cut the price of the Wii by a fifth in the second half of 2009, responding to similar cuts by Sony and Microsoft Corp, which offer the PlayStation 3 and the Xbox 360, respectively.

Nintendo maintained its operating profit forecast of 370 billion yen (2.5 billion pounds) for the year to March.

That would be a third below its 555.26 billion yen profit a year earlier, but more than a consensus for a 361.1 billion yen profit in a poll of 20 analysts by Thomson Reuters

Bad news for Nintendo good news for Sony; PS3 sales have grown dramatically after its price cut to over 68%

Although Nintendo did come out on top for holidays sales it wasn’t enough to make up for price cuts and slower sales throughout the rest of the year

In October-December, the crucial holiday quarter for game makers, Nintendo sold 11.3 million units of the Wii, up 8 percent on the year.

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