Nintendo boss halves pay after profits plunge
Published 29/01/2014 | 12:48
THE head of games giant Nintendo has vowed to slash his salary in half after the company announced a 30pc slide in profits for the third quarter.
Nintendo also announced an operating loss of 1.58bn yen (€11.3m).
President Satoru Iwata announced he would take a cut in salary for five months as a result while other board members will take cuts of between 20pc and 30pc.
Weaker-than-expected Wii U console sales competing with cheaper downloads was the main reason for drop.
"Nintendo released key first-party titles such as 'The Legend of Zelda: The Wind Waker HD', 'Wii Party U' and 'Super Mario 3D World' from the summer toward the year-end sales season," it said in its earnings statement.
"While these titles each sold over one million units, the Wii U business as a whole was not able to recover fully, and the global sales of the Wii U hardware and software reached only 2.41 million and 15.96 million units respectively."