On the same day it revealed the Japanese price and release date for the 3DS
, Nintendo also cut its profit forecast by half for the fiscal year ending March 31, 2011. The company previously projected
a net income of ¥200 billion ($2.39 billion), but now expects to bring in about ¥90 billion ($1.08 billion). In the previous fiscal year
, the company added ¥230 billion (about $2.45 billion) to its money bin.
Nintendo claims the radical shift is due to stronger-than-expected yen appreciation, current sales, the sales outlook for the 2010 holiday, and the "decided release conditions for the Nintendo 3DS." Despite lowering overall DS hardware and software sales (of which the 3DS is a part) for the fiscal year, Nintendo expects to ship 4 million 3DS units by March 2011, along with 15 million games.