Ouch. There are times when the market behaves like a disappointed child on Christmas morning. No one expected Nintendo to fare well from yesterday’s announcement that the company’s much-hyped 3DS portable gaming console would miss the holiday season in Japan, but a drop of 9.34 percent in the Osaka Securities Exchange–ouch.
Nintendo first announced the 3DS back in June at E3 in Los Angeles, touting the player’s ability to simulate 3D gaming without the aid of glasses. The device was met with raves from the tech community after a series of short demos. A week later, Nintendo announced that the portable console would be released in the US in March 2011. Most still expected it to see a holiday release in its native Japan.
During a earnings call yesterday, Nintendo told the press that the device would not see a Japanese release until February, cutting its profit estimates by 55 percent, leaving the company without a blockbuster device during a holiday season that will no doubt be dominated by Sony’s PlayStation Move and Microsoft’s Xbox 360 Kinect–motion controllers that took center stage at their companies’ respective E3 presentations.
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