Nintendo Records $531.1 Million Annual Loss
TOKYO — Nintendo Co. posted its first annual loss in more than three decades, dragged down by the strong yen and price cuts for the company’s Wii game console and 3DS hand-held system.
While competing with online social games and less-expensive titles on smartphones and tablet computers, Nintendo also is revamping its portable and home machines to keep pace with Sony Corp. and Microsoft Corp. Nintendo plans to debut a new home console, the Wii U, this year.
