Nintendo posts £283m loss as Wii and 3DS struggle

Weak demand for Nintendo's 3DS handheld gaming console has contributed to the company's first annual loss. Credit: REUTERS/Toru Hanai

Nintendo Co Ltd has promised it will return to profit this year, helped by a weakening yen, after posting its first annual operating loss on shrinking sales of its ageing Wii gaming console and weak demand for its new 3DS handheld device.

For the current financial year to March 31, Nintendo predicted operating profit of 35 billion yen (£265.5 million), compared with a consensus estimate of a 40 billion yen profit.

The operating loss of 37.3 billion yen (£283 million) in the year just ended compared with a consensus estimate of a 41.4 billion yen (£315 million) loss.