Today in Tech: Nintendo losing in clash with Apple

July 29, 2011: 7:41 AM ET

Fortune's curated selection of the day's most newsworthy tech stories from all over the Web. Sign up to get the newsletter delivered to you every day. 

* Nintendo slashed the price of its 3DS handheld system by roughly one-third (from $250 to $170) because of lower-than-expected sales during the first three months. The gaming company also lowered its annual profit forecast by a stunning 82%. President Satoru Iwata said in an online letter it was the first time Nintendo has cut prices so much within the first six months of a product's launch. The cut comes during a time when the gaming industry is affected by mobile games on multi-purpose devices by companies like Apple and social games from more recent companies including Zynga. (Wall Street Journal and New York Times)

* Groupon's unique accounting approach is drawing some heat from the U.S. Securities and Exchange Commission in the months leading up to a potential initial public offering (IPO). The leading daily deals site is using an unusual measure, adjusted consolidated segment operating income (or adjusted CSOI), to measure profits without including its online marketing expenses. (Wall Street Journal)

Twitter is rolling out "Promoted Tweets," paid ads resembling regular Tweets from companies, brands or charities you follow that will appear in your Twitter stream. Partners include Dell, Groupon, JetBlue, LivingSocial, and Microsoft Xbox. (Twitter)

* Logitech CEO Gerald Quindlen resigned after the company reported a $29.6 million net loss for its first quarter compared with a $19.5 million profit the year before. Former CEO Guerrino De Luca is helming Logitech in the interim. (MarketWatch)

* Sony reported a $199 million loss for its first fiscal quarter due to issues like the hacking of its PlayStation Network and the Japan earthquake. (Compare that with the $25.7 billion it made around the same time one year prior.) (VentureBeat)

* Yelp has a new CFO in Rob Krolik, who held the same position at the real estate-focused company, Move Inc. (Yelp)

* Andy Serkis and the evolution of motion capture technology. (Popular Mechanics)

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About This Author
JP Mangalindan
JP Mangalindan
Writer, Fortune

JP Mangalindan is a San Francisco-based writer at Fortune, covering Silicon Valley. Since joining in 2010, he has written on a wide array of topics, from the turnaround of eBay to the evolution of net neutrality. A graduate of Fordham University, Mangalindan has also written for GQ, Popular Science, and Entertainment Weekly.

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