Nintendo Q1: 3DS sells 0.7m, hardware price cut promised

While Nintendo's first quarter results have shown that 3DS hardware sold only 0.71 million units in the period, the company has promised a global price cut for the handheld in the September quarter.

Weak results were blamed on bad comparisons related to the strength of the yen, as well as "absorbing the inventory markdown taken into account with the connection of the price reduction of the Nintendo 3DS hardware to be made during this September quarter in Japan, the US, Europe and Australia."

3DS released this February in Japan and this March in the US and Europe.

While 3DS hardware sales were slow, 3DS software moved 4.53 million units in the period.

Wii U remained listed as a 2012 release.

Wii hardware sales fell dramatically in the quarter, down from 3.04 million in FY 2010 to 1.56 million units this year, while Wii software sold 13.44 milllion units in the quarter.

DS hardware sold 1.44 million units in the period, heavily down from 3.15 million last year. There were 12.44 million pieces of DS software sold in the quarter.

Net sales were down from ¥189 billion last year to ¥94 billion for the period.

Nintendo is still making a loss, with the deficit stuck at ¥25.5 billion compared to ¥25.2 billion a year ago.

The company has heavily cut its full-year profit forecasts, down 82 percent to ¥20 billion from ¥110 billion.

See the full report here.