TOKYO -Nintendo President Satoru lwata said that Nintendo was forced to take this strategy because many gamers are resorting to iPhone applications and games online via Facebook. "The company needed drastic measures to captivate gamers" .
Nintendo shares fell 12 percent to 12.290 yen per share On the Osaka Stock Exchange
The decline was the largest since January 2009 and the lowest value of the shares before the November 2006 launch of the Wii console. Nintendo shares fell 12 percent to 12.290 yen per share on the Osaka Stock Exchange.
Nintendo 3DS will reduce the price of the new console was five months up to 40 percent from 11 August to boost sales . This strategy is expected to cut about 82 percent of Nintendo's profits.
Nintendo shares fell to their lowest level in six years, after a decline in demand for products Nintendo 3DS, their latest portable gaming. It is inseparable from the policy of cutting prices and lower product revenue targets video game producer in the world's largest.
