Nintendo had high hopes that its Nintendo 3DS would bring the company out of the basement of the gaming world and bring it back to the glory days. Unfortunately, Quarter 2 results did not look so good for the company. Nintendo posted a total net loss of $324 million for Q2, a little more than their hit from last year as the same time. The bigger issue here is that Nintendo also reduced their sales forecast for 2010 by 82 percent, from $11.5 billion to a mere $257 million.
Because of this, Nintendo's stock dropped by a fifth of its value this week. As it turns out, 11,190 investors didn't seem to like an 82 percent decrease in sales projections. Nintendo is putting the blame on a lack of sales for the big titles on the Wii and 3DS.
So what is a company who is struggling to barely keep afloat this year to do after a disastrous financial report? Drop the price of their headlining handheld gaming device, of course! More details on that after the break.