Nintendo posts first annual loss in company's history

Nintendo has posted its first ever annual loss.

The Japanese games giant saw a loss of 37.3 billion yen (£284 million) due to declining Wii sales and poor 3DS performance, according to Reuters.















A weak Yen overseas as well as increasing competition from Apple and other smartphone companies are also to blame.

However, the firm expects a return to making a profit for the coming financial year leading to March 31, 2013.

The launch of the Wii U, debut of Dragon Quest X from Square Enix and the sale of 18.5 million 3DS systems are said to help achieve predicted profits of 25 billion yen (£266 million).

3DS sales are expected to continue climbing as it strengthens its release lineup, with New Super Mario Bros. 2 out this August and Luigi's Mansion 2 and Animal Crossing out this year.

Nintendo has confirmed it will show a new Super Mario game and Pikmin 3 for Wii U at the E3 gaming expo this June.

> Nintendo 3DS update now available: Adds game patching, menu folders

Watch a Wii U concept trailer below: