Nintendo profits sink on declining console sales, weak game selection

Oh how the mighty have fallen. Nintendo just announced that its interim net profit was cut by more than half to ¥69.49 billion (about $770 million), from ¥144.83 billion last year at this time -- figures that won't be helped by the cheaper Wii price tag announced at the end of September. Speaking of which, Nintendo sold only 5.75 million Wii consoles from April to September (down 43% from last year) and cut its full year sales forecast for the April 09 to March 2010 period to 20 million units, down from an expected 26 million. DS sales were also off 15% from last year and we doubt that a bigger screen on the new DSi LL model will change that dramatically.