Nintendo’s share price flushed down the U bend

Funny-Toilet-221The console maker with a toilet fixation has seen its shares plummet after delaying a move to offer its games on mobile phones.

Nintendo, the maker of much Wii, has ignored calls to put its games onto mobile phones for ages. Then after it changed its mind and set an early 2016 date for the launch, it saw its shareholders get excited.

Now the outfit has pushed the launch of the games a few months to March 2016, disappointing gaming fans as well as investors who drove its shares down by more than 10 percent.

Fans and investors had hoped it would include its best-selling videogame franchise Mario in the first lineup.

Chief Executive Tatsumi Kimishima said the delay would help Nintendo concentrate on selling its existing consoles and game software during the year-end holiday season.

“The year-end is traditionally our peak season for sales. This way, we’d be able to introduce our new applications after the holiday season is over.”

He did not say if Mario would come to smartphones, instead introducing a new social networking service-style application called “Miitomo” which would be available in March.

However the news knocked Nintendo’s shares down more than 10 percent in morning trade, erasing earlier gains. DeNA Co, Nintendo’s mobile gaming partner, fell as much as 19 percent.

Although shareholders and gamers want Nintendo to put its catalogue onto mobiles there are some fears that its traditional reluctance are justified. If done incorrectly Nintendo could cannibalise traditional console sales.

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Nintendo reported a weaker than expected operating profit for the July-September quarter on tepid sales of game software, apparently. Tepid. Now that’s a word and a half.