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Nintendo cuts annual outlook on forex, weak sales

Reuters

TOKYO (Reuters) - Japanese game maker Nintendo Co slashed its full-year profit forecast due to a stronger yen and weaker-than-expected sales of its 3DS handheld gaming consoles and software.

Nintendo said it now expects 33 billion yen ($293 million) in operating profit for its fiscal year through March instead of a previously expected 50 billion yen. It also cut its net profit forecast to 17 billion yen from an earlier 35 billion yen.

Nintendo disappointed gaming fans in October when it said it pushed back the much-awaited launch of its videogame service for smartphones by a few months to March 2016.

(Reporting by Ritsuko Ando; Editing by Chris Gallagher)