Nintendo Stocks Plummet Due to 3DS Announcement

With Nintendo announcing details about its upcoming handheld console, it appears that the press conference has had an adverse affect on the company. With the 3DS set to launch in Japan on February 26, retailing for approximately $300 USD, Nintendo’s decision not to launch the console in 2010 before Christmas has brought down the company’s expected net profit from 200 billion yen to 90 billion resulting in a huge drop in its stock.

Along with weakening Wii sales worldwide, the drop in stocks can be seen as analysts believing that the high price of the 3DS and missed Christmas sales will make a large dent in sales.

[Source: Wall Street Journal ]