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Nintendo admits Wii U to be sold at loss
Nintendo will sell the Wii U at a loss when the console launches next month, the company has revealed, despite earlier suggestions the machine would be profitable from day one. Company president Satoru Iwata confirmed the news to investors yesterday following Nintendo’s latest financial briefing, where it lowered profit expectations for the year.”The Wii U hardware will have a negative impact on Nintendo’s profits early after the launch,” Iwata explained, “because rather than determining a price based on its manufacturing cost, we selected one that consumers would consider to be reasonable.”Read more…
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