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Nintendo Shares Drop 5% Following Pre-TGS Announcements

Following its pre-Tokyo Game Show event, Nintendo has seen its share price fall by 5 percent as investors were left unimpressed by the various announcements made for the 3DS and the Wii.
Following its pre-Tokyo Game Show event, Nintendo has seen its share price fall as investors were left unimpressed by the various announcements made. The company revealed a number of new titles for the Nintendo 3DS and Wii at the event, including the likes of Pokepark 2 for Wii and Mario Tennis for 3DS. It also announced that 3D video capture is coming to its handheld console later this year in November, allowing users to record stereoscopic 3D video clips. However, business website Reuters reports that Nintendo's shares fell by 5 percent, with investors skeptical that the new 3DS content will be enough competition for smartphone and tablet gaming. Mitsuhige Akino, chief fund manager at Ichiyoshi Investment, told Reuters, "I don't think the new games will make any difference." "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." The slump in share price means that Nintendo's shares have now dropped 46 percent overall compared to the start of the year. Elsewhere, analysts predicted that the Nintendo 3DS will not reach its annual sales target of 16 million units, with the average estimate of four analysts surveyed by Bloomberg showing that this target will likely be 16 percent shy. "Today’s announcements were disappointing relative to what the market was hoping for," said Akino. "The new Mario titles and the additional movie-camera function aren’t enough for the company to meet its targets during the Christmas shopping season."

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