Nintendo shares suffered a huge reduction this morning following Friday’s announcement of a huge drop in the Wii U’s sales forecast.
The shares had fallen as much as 18 percent in Tokyo, but clawed its way back to 6.2 percent before closing. Bloomberg suggests that the drop has cut $1.2 billion off of the company’s value.
As CVG reports, this is the biggest drop in Nintendo shares since September. It’s not surprising, given the announcement that the company was expecting 2.8 million Wii U’s to be sold where it had originally predicted 9 million.
As to where the company goes from here, president Satoru Iwata has said that it is looking at different business models. That could included smartphone gaming among other things.