PlayStation Network

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) More

Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by VIP.