Nintendo Posts $530 Million Loss From 2011 Fiscal Year

Even though the 3DS is on fire nowadays, it doesn't erase the negative impact of its sluggish launch and price cut last year, which Nintendo has now revealed to have led to a $530 million net loss in fiscal 2011 (its first net loss ever, in fact). In addition to the worldwide price cut of the 3DS, the currency exchange rate is also being blamed as a contributing factor to the loss.

Nevertheless, Nintendo is confident they will return to profitability this year, with CEO and President Satoru Iwata saying:

"While [Nintendo] did post a loss for the recently completed fiscal year, the continuing momentum of the Nintendo 3DS and the global introduction of the highly-anticipated Wii U home console will drive the company back into profitability in the current year."

Nintendo also made note that it expects to stop selling the 3DS below cost during the middle of this fiscal year. As is usual for consoles and handhelds over the course of years, this likely means they've found a way to reduce the cost of some of the 3DS's components, rather than hiking the price up in stores again.

Expect to hear more news when the company discusses their financial performance at an investor's briefing later today.