Nintendo Bracing For Massive Loss

 

Nintendo has announced that it will suffer a massive loss of about $700 million for the current business year. This is much higher than a previous estimate, and has sent shockwaves through the company. Once one of the hottest tech stocks on the market, Nintendo has suffered tremendously over recent years as demand for its Wii console slumped. The recently announced Wii U hasn't done much to renew investor confidence, either, and the company is now scrambling to find a solution for its cash troubles. Analysts expect Nintendo to rush production of the Wii U in order to capture some market relevance again.