If you didn't find Nintendo's announcement of the new DSi handheld very exciting, you're not alone. Investors were pretty non-plussed also and the company's stock plummeted 8.7% the day after the reveal.
Yoku Ihara, an analyst at Retela Crea Securities Com told Bloomberg that, "Nintendo's announcement on the DS didn't exceed investors' expectations."
Nintendo's stock has been in a significant decline since peaking last October. In 2008 so far, the value has decreased 41% due in part to the strengthening Yen and the current global financial market crisis. Still, the drop today has to hit pretty hard, and it's almost certainly due to the press conference announcement.
While I'm no expert and am judging by what I've been reading around the web, it doesn't sound as though the DSi is going to print money they way its predecessors has. It's hard to say how much Nintendo really has riding on this one, though, as the Wii is still going strong and the DS Lite is selling fairly well.
Do you think Nintendo can turn this ship around again, or is the honeymoon over?
[Via GamesIndustry]
Conrad Zimmerman is Destructoid's News Editor and home to the busiest mustache in the gaming press. An amateur historian and pop culture fanatic, Conrad possesses a nearly limitless wealth of videogame factoids and a passion for the power of games to teach, inspire and entertain. He enjoys reading, writing and turning things which should be fun into work.
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Contest:
8:23 AM on 10.03.2008
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Anyway, I think one reason might be because people see it as Nintendo trying to follow the crowd? It's funny because it seems like we're coming around full circle here, originally game consoles were sold to do other stuff as well as play games, but they didn't really take off until consoles started being released that ONLY played games. Now consoles are back to being more than just game machines.
I think that the Japanese are especially abrasive to this and the fact that Nintendo's new version of the DS can play music, browse the internet, take pictures, etc etc. might be frightening some investors off. However, I'm sure it'll sell very well and the sun will still rise. I just hope Nintendo doesn't get caught up in building a machine that happens to play games like Sony has this generation.
every little Jimmy and soccer mom are going to fighting over this in wallmart this December. don't be fooled it will print money
Quick, get a new patch of money printing ink!
If their stock didn't bottom out after E3, nothing short of surprise bankruptcy will scare all the investors away.
Maybe. Hell, I don't know.
"Market Saturation", that's the term I was grasping for.
wii music anyone?
I hate dogs. I REALLY hate dogs. Yet I can think of nothing more sad than someone playing with a virtual representation of their dog rather than their actual dog.
By the way, though we've never met, I seem to swear at you all the time.
Seriously, why should I upgrade. It doesn't have the GBA slot so there goes over half the games the old DS could play (GBA + DS Games that have expansion such as Guitar Hero, Arkanoid and the Rumble pack.) It looks like they completely changed the Firmware so there goes Homebrew, and to top it all off, the Music player only plays AAC.
If it was something more compelling, (such as a gamecube stuffed into an handheld) maybe I would think about it. otherwise it's just more hardware that my DS already does well.
Also, I think that 8.7 percent drop is a bunch of little pissed off core gamers selling their stock in Nintendo while bitching about how the DSi is crap. At least that's what I get from the Dtoid community.
At least Nintendo didn't call it the iDS.
* Brainderailment: "Other than that, put Nintendo logo on anything light colored and it will fly off the shelves."
Ah, so that's why the Wii isn't available in black, yet.