Nintendo Posts $325 Million Loss; Ford Enters India
MARY LOUISE KELLY, host:
NPR's business news starts with a losing quarter for Nintendo.
(Soundbite of music)
KELLY: The company that brought you the Wii is having a tough time as gamers shift to smartphones and the Internet and away from stand-alone video game devices.
Nintendo today posted a loss of about $325 million - that's its first quarterly operating loss on record. The company blamed the strong Yen, which means profits are smaller when they're taken home to Japan from overseas. Poor sales of the 3DS video game device also contributed. Nintendo rolled out that hand-held device earlier this year with a lot of fanfare. Now it's slashed the price by 40 percent.
STEVE INSKEEP, host:
Some other news. Ford Motor Company plans to spend about a billion dollars on a new manufacturing plant in India. The move would double Ford's investment in that country, which is seen as one of the world's fastest automobile markets. The plant is expected to employ about 5,000 people.
This is part of Ford's push into Asia - where the company expects to see 60 to 70 percent of its growth over the next decade.
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