Nintendo was forced to post an annual loss of $623 million for the end of 2011, and also lowerd it's projections for the next fiscal year stating that they now believe they will have a $837 million dollar loss instead of $258.
$623 million? $837 million? Ye-ikes! Even for a huge corporation those are not the sort of numbers you simply sneeze away. Nintendo obviously has a problem on their hands, what with their revenue stream slowing to a tiny trickle.
Some of that can be blamed on inflation and a stronger Japanese yen (Nintendo tends to suffer a bit with overseas sales when the yen is stronger). However, there's also a strong suspicion that a lot of the losses can be chalked up to gamers being not so impressed with Nintendo anymore. With HD consoles and smartphones at their disposal, who could blame many for their lack of enthusiasm for the lower quality graphics the Wii has to offer?
Still, Nintendo is on track for releasing the Wii U in time for Christmas as expected. Let's just hope that the newest gem in their crown is enough to keep the whole kingdom from sinking.