Nintendo share price falls after 3DS conference
Investors unconvinced by announcements, shares drop by 5 per cent
Nintendo's share price fell by 5 per cent following its 3DS press conference.
The drop leaves the company's share price at ¥ 12,290, the lowest since mid-August, when disappointing financial results caused it to plummet 21 per cent in a single day.
Nintendo's shares spiked by 8.4 per cent to ¥13,100 at the end of August after invitations to today's 3DS press conference sparked rumours of major announcements.
However, analysts and investors were not enthused by the new software, extra functionality, and "misty pink" 3DS hardware Nintendo actually unveiled.
"I don't think the new games will make any difference," Ichiyoshi Investment's Mitsushige Akino told Reuters. "Nintendo succeeded by pulling in people who weren't gamers and their needs now are no longer being filled by Nintendo - they are happy playing games on their mobile phones."
3DS hardware sold 215,000 units in the week following its price cut, but numbers have fallen by around 75 per cent in the time since.
Nintendo's share price has declined by almost 50 per cent since the start of the year.