Trending: Jeff Bezos and other investors raise $200 million for vertical farming startup Plenty

Nintendo just posted an annual loss of more than $530 million, as the company struggles with the decline of the Wii console and the lackluster launch of the 3DS handheld machine.

The company was hurt in part by the 3DS price cut that it was forced to make after initial sales of the handheld device fell short.

So where does the company go from here? The biggest move is the planned release of the Wii U later this year, which puts a 6.2-inch touch screen into the controller of the console.

Nintendo is expected to give more details on that machine at the upcoming E3 video-game convention.

The company has so far resisted pressure to make its games available for non-Nintendo mobile devices and smartphones.

Nintendo says it plans to start turning a profit on the 3DS by the middle of the upcoming fiscal year. It’s also looking ahead to the release of games including a new installment of “Brain Age” and “New Super Mario Bros. 2” for the 3DS.

By the way, some sites are calling it Nintendo’s first annual loss in 30 years; others are saying it’s the first in the company’s history, which had been our understanding. The furthest records we could find go back to 1981, and it’s definitely the first loss over that time period. We’ve asked for clarification, and we’ll update this post if we hear back.

Like what you're reading? Subscribe to GeekWire's free newsletters to catch every headline

Comments

Job Listings on GeekWork

Find more jobs on GeekWork. Employers, post a job here.