A few years ago, Nintendo was making money so fast it didn't know what to do with itself. However, demand for the Wii has dried up since then, and the 3DS has not been as big an earner as had been expected.
Nintendo posted a loss of $329 million for the first quarter. It also cut its profit forecast for the year by 82%.
The company said it would drastically lower the price of its flagship 3DS in order to stimulate sales, which have been weak since the console launched. A poor software line-up has been blamed by many as the reason for its poor performance.
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