Nintendo predicts first ever annual loss

Nintendo predicts first ever annual loss
Nintendo 3DS - not helping matters

Nintendo has warned that it may make its first ever annual net loss after a turbulent financial year, predicting that it will come in 20 billion yen out of pocket.

It's not just the damp squib that was the Nintendo 3DS launch, nor the failure of a new Wii to materialise, that has set Nintendo back.

It also has to contend with a strong yen and weak Euro-zone currencies, where it has typically made a lot more money in the past.

Big guns

But Nintendo's failure to bring out any of the software big guns hasn't helped either – the financial year hasn't seen any major Super Mario nor Zelda titles released, although The Legend of Zelda: Skyward Sword should be out in time for Christmas.

Industry commentators have contended that the company is also struggling to compete with the new wave of social and casual gaming; Facebook recently bragged that it had more gamers alone than Sony, Microsoft and Nintendo combined.

Stiff competition abounds on the device side of things too; smartphones have taken over a chunk of what used to be the Nintendo DS's territory.

No doubt Nintendo will be looking to the launch of the Wii U to restock the coffers and restore investors' confidence – stock in the company has fallen around 50 per cent since 1 April.

There may still be a bit of a wait for the funny-looking Wii U to land, but whet your appetite with our video explaining everything you need to know about the upcoming console:

From Reuters

News Editor (UK)

Former UK News Editor for TechRadar, it was a perpetual challenge among the TechRadar staff to send Kate (Twitter, Google+) a link to something interesting on the internet that she hasn't already seen. As TechRadar's News Editor (UK), she was constantly on the hunt for top news and intriguing stories to feed your gadget lust. Kate now enjoys life as a renowned music critic – her words can be found in the i Paper, Guardian, GQ, Metro, Evening Standard and Time Out, and she's also the author of 'Amy Winehouse', a biography of the soul star.