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News Summary: Nintendo cuts year forecast

The Associated Press
Wednesday, 24 Oct 2012 | 4:48 PM ET

LESS RED INK: Nintendo Co. narrowed its losses in the first half of its fiscal year. A year ago, it had cut the price of its 3DS game machine, hurting its results.

CUT FORECAST: But the Japanese game maker cut its forecast for the rest of the year ahead of the launch of its new Wii U console.

BACKGROUND: Nintendo, the maker of Super Mario and Pokemon games, has been hard hit by the popularity of smartphones and tablets that are luring people away from traditional game machines, such as Nintendo's Wii, and handhelds like its Nintendo 3DS.

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