Nintendo slashes price of 3DS by about 40 percent

Nintendo has announced significant cut in the price of its 3DS handheld console that has so far performed dismally compared to its predecessors. After spending the last few years, basking in the glory of number-one spot, the Japanese console manufacturer and game publisher seems to be going through some dark days. The company has dropped its annual profit forecast by an astonishing 82% and has reported Q1 net loss of ¥25.5 billion.  

Nintendo has attributed this drop in sales and expectations to various factors like the less than favorable response of the market to Nintendo Wii successor, disappointing sales of 3DS and aftermath of the recent tsunami. In the three months ending on June 30, Nintendo has reported that only 710,000 units have been sold worldwide. The company hopes that the price-drop in conjunction with some new game releases will see 3DS sales pick-up to respectable levels. GI has reported that the cost of 3DS console will be brought down to $169.99 from the previous price of $249.99 in the US, and that there will be similar price slashes in Europe and Japan.