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Nintendo’s decision to cut the price of the 3DS has been followed by a 12 per cent drop in its share value – the biggest fall the company has suffered in two years.
The Big N’s stocks were worth 12,290 yen on the Osaka Securities Exchange at the close of trading on Friday, according to Bloomberg. It is estimated that former company president Hiroshi Yamauchi may have lost $300m in one fell swoop, as a result of the change.
Aside from the announced price cut, investors may be reacting to the financial results that Nintendo published yesterday.
Less than a million 3DSs were sold during Nintendo’s first financial quarter – just 710,000 units shifted. The Wii sold 1.56m units, just over half the 3.04m that were bought during the same period last year.
As for games, the 3DS sold 4.53m while the Wii managed 13.44m.
Bloomberg Japan also reports that Nintendo will lose money on every 3DS sold.
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