The company is also projecting lower sales for the 3DS

Jan 17, 2014 08:38 GMT  ·  By

Video game hardware maker and game publisher Nintendo announces that it is forecasting a loss of 25 billion yet, about 240 million dollars (165 million Euro) for the fiscal year, most of it linked to the underperforming Wii U.

Initially, the company expected to make a profit for the 12-month period that ends in March, but it also expected to sell 9 million home consoles.

The current estimate sits at just 2.8 million Wii U units delivered to gamers and even that might be optimistic.

Satoru Iwata, the president of Nintendo, says that the company can recover in the near future.

It is unclear what it can do to directly compete with the PlayStation 4 and the Xbox One and the Wii U currently lacks a unique selling point that attracts customers.

More worrisome is that the forecast for the 3DS handheld has been cut from 18 million units to just 13.5 million.