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    Nintendo was founded in Kyoto, Japan in 1889 as a manufacturer of hanafuda playing cards. The company went through several small niche businesses before becoming a video game company.

    Nintendo Stock Drops 20% and One Man Loses $300 Million [UPDATED]

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    patrickklepek

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    Edited By patrickklepek
    Hiroshi Yamauchi and his excellent glasses.
    Hiroshi Yamauchi and his excellent glasses.

    UPDATED: Final numbers put Yamauchi's total loss at something closer to $300 million. Still big!

    --

    "We plan to show something new at next year’s E3, though typical gamers are not demanding high specs. The people who speak about the “next generation” are people who don’t know games."

    "If the DS succeeds, we will rise to heaven, but if it fails we will sink to hell."

    "Gamers don’t just want beautiful graphics, sounds and epic stories."

    "We cannot guarantee interesting and fun games just by using better technology and increasing the functions of the machines."

    I'm not sure how many of you remember former Nintendo president Hiroshi Yamauchi, the hard ass who used run operations at Nintendo, and the man responsible for all of the above quotes, but he's having a bad day.

    How come? Well, Bloomberg estimates Yamauchi, Nintendo's largest individual shareholder, lost more than $500 million.

    Nintendo stock fell as much as 21% in response to Nintendo's first quarterly loss ever, a combined storm of plunging Wii sales and sluggish adoption of 3DS, resulting in Yamauchi's financial dip.

    $500 million isn't a drop in the bucket for Yamauchi, but as a man thought to be worth roughly $4.6 billion, it's not the end of the world. Such a sharp drop represents lost confidence in Nintendo.

    Nintendo's initial response has been to drop the price of 3DS from $249.99 to $169.99, starting August 12.

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    patrickklepek

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    #1  Edited By patrickklepek
    Hiroshi Yamauchi and his excellent glasses.
    Hiroshi Yamauchi and his excellent glasses.

    UPDATED: Final numbers put Yamauchi's total loss at something closer to $300 million. Still big!

    --

    "We plan to show something new at next year’s E3, though typical gamers are not demanding high specs. The people who speak about the “next generation” are people who don’t know games."

    "If the DS succeeds, we will rise to heaven, but if it fails we will sink to hell."

    "Gamers don’t just want beautiful graphics, sounds and epic stories."

    "We cannot guarantee interesting and fun games just by using better technology and increasing the functions of the machines."

    I'm not sure how many of you remember former Nintendo president Hiroshi Yamauchi, the hard ass who used run operations at Nintendo, and the man responsible for all of the above quotes, but he's having a bad day.

    How come? Well, Bloomberg estimates Yamauchi, Nintendo's largest individual shareholder, lost more than $500 million.

    Nintendo stock fell as much as 21% in response to Nintendo's first quarterly loss ever, a combined storm of plunging Wii sales and sluggish adoption of 3DS, resulting in Yamauchi's financial dip.

    $500 million isn't a drop in the bucket for Yamauchi, but as a man thought to be worth roughly $4.6 billion, it's not the end of the world. Such a sharp drop represents lost confidence in Nintendo.

    Nintendo's initial response has been to drop the price of 3DS from $249.99 to $169.99, starting August 12.

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    mech4399

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    #2  Edited By mech4399

    !!! I wish I had $500 Million to lose.

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    MisterMouse

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    #3  Edited By MisterMouse

    man that is a crazy drop...

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    Wraith1

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    #4  Edited By Wraith1

    stock holders must be mad

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    rapid

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    #5  Edited By rapid

    Yikes, Nintendo needs to rethink their plans. Hardware alone is not cutting it right now.

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    FourWude

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    #6  Edited By FourWude

    The collapse is coming.... soon enough...

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    JJOR64

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    #7  Edited By JJOR64

    Damn. I would be a little ticked and I lost $500mil.

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    Dany

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    #8  Edited By Dany

    Damn, that is crazy but in all honesty I see the same thing happening with the Wii U.

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    toowalrus

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    #9  Edited By toowalrus

    @Wraith1 said:

    stock holders must be mad

    I'm sure their stock went up so much during the DS and Wii boom that they made massive profit even with this drop.

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    blurienh

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    #10  Edited By blurienh

    Dont see the WiiU turning things round for them either.

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    dillinger

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    #11  Edited By dillinger

    3DS will shift more units as  better games come out, and also with the price drop.  They'll bounce back

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    BBQBram

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    #12  Edited By BBQBram

    I'm not worried.

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    Sooperspy

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    #13  Edited By Sooperspy
    @dillinger said:
    3DS will shift more units as  better games come out, and also with the price drop.  They'll bounce back
    This.
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    rjayb89

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    #14  Edited By rjayb89

    Kill that man! He used run operations at Nintendo!

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    VirtuaXav

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    #15  Edited By VirtuaXav

    Unlucky for that dude, but I'm sure he'll be just fine.

    Still sucks for Nintendo, hopefully they can blow us out of the water this financial year.

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    deactivated-57d3a53d23027

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    How is he a hard-ass?

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    Kazona

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    #17  Edited By Kazona

    Talk about a roller coaster ride. The Nintendo 64 did great, but the game cube pretty much tanked. Then they came back strong with the Wii, and now they're plummeting again.

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    thedez

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    #18  Edited By thedez

    Iwata probably needs to go back to making games and let someone else run the company.

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    GoldenGlove

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    #19  Edited By GoldenGlove

    He lost $500 million but he gained the knowledge that true wealth is friendship.

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    Hailinel

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    #20  Edited By Hailinel

    @FourWude said:

    The collapse is coming.... soon enough...

    So you're looking forward to the collapse of a corporation and the loss of jobs?

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    BD_Mr_Bubbles

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    #21  Edited By BD_Mr_Bubbles

    @Redbullet685 said:

    @dillinger said:
    3DS will shift more units as better games come out, and also with the price drop. They'll bounce back
    This.
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    Davin

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    #22  Edited By Davin

    I'm sure he isn't going to go hungry anytime soon.

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    WilliamHenry

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    #23  Edited By WilliamHenry

    @TooWalrus said:

    @Wraith1 said:

    stock holders must be mad

    I'm sure their stock went up so much during the DS and Wii boom that they made massive profit even with this drop.

    Don't they only make a profit if they sell their stock? If they haven't sold any yet, then they lost a ton of potential money today.

    Nintendo is in a weird spot. Their current systems aren't selling too hot and with the WiiU being a half step next gen-wise, I don't see it solving their problems.

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    FourWude

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    #24  Edited By FourWude
    @Hailinel said:

    @FourWude said:

    The collapse is coming.... soon enough...

    So you're looking forward to the collapse of a corporation and the loss of jobs?

    THAT'S EXACTLY WHAT I'M INSINUATING IN MY POST.

    Fucking retard.

    Or maybe, just maybe.... I'm just stating that there is an imminent collapse of the videogame industry. Something which I've posted on numerous times, to the point which I find it tedious to even talk about it.

    But you're absolutely right, I'm gonna dance butt fucking naked in the streets when Nintendo has to lay off thousands of jobs, because that's how I get my kicks.

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    ryanwho

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    #25  Edited By ryanwho

    Patrick isn't trolling Nintendo and Fox News doesn't have a right wing bias.

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    maskedarcstrike

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    #26  Edited By maskedarcstrike
    @dillinger: What better games are you talking about?  3rd party support like Ubisoft has been canceling games like Assassins Creed for 3ds as well as some other developers.  Pretty much the only 3rd party title that looks promising is RE: Revelations.  You think they can pull it off again with the usual Mario Kart, Super Mario, Kirby, lineup?  I may be completely wrong but I think that well is dry for this generation of younger gamers into their late teens, they did that with the DS and have either moved on to hardcore games or have abandoned games completely. 
     
    The younger generation of early teens is more interested in mobile phone games IMO.  I think the age of the hand held is finally kind of starting to die.
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    yukoasho

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    #27  Edited By yukoasho
    @Kazona said:
    Talk about a roller coaster ride. The Nintendo 64 did great, but the game cube pretty much tanked. Then they came back strong with the Wii, and now they're plummeting again.
    Well, the N64 was certainly a great system for Nintendo, but it was the first Nintendo system not to be the primary console for gamers, or the primary target of 3rd parties (though at the time it was assumed that Nintendo would rebuild relationships frayed by their attitudes during the NES and SNES eras.  It was nowhere near what the SNES was in terms of market penetration or profit (though it was still very much a profitable venture).  Indeed, for a solid ten years, Nintendo was the red-headed stepchild of the home console industry.  However, their eternal franchises and continued handheld dominance kept them from fading into complete irrelevance until they were able to set the world on fire with the Wii.  Now we have a scenario where Wiis everywhere are being shoved into closets, and Nintendo is in danger for the first time of losing the handheld gaming market dominance it has always enjoyed to a two-pronged attack - Sony's going in with lots of lessons learned from the PSP's failure, so they're going to stand a good chance of encroaching into the retail space, while the inconsequential "casual" type of games they used to make fortunes charging $40 for are going for $0.99-$5.00 on iOS, Android and (to a lesser extent) Vita. 
     
    Now more than ever, Nintendo needs to put the gimmicks away and do what they do best - games.  Getting back to making classics is what's going to pull them out of this funk.
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    McShank

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    #28  Edited By McShank

    Well.. sounds like its a good time for McShank to start investing in nintendo stock as I doubt nintendo will die.. but rather bounce back to where they were before at least.. And if im wrong o well, cant be worse then buying lottery tickets and waiting till they draw the numbers and see you didn't win for the 101th time.. People think this is the end of nintendo, HA.. just look where sony was when the ps3 launched or the psp launched.. they have been in the slump for a while in major profits but yet they still live on to make new stuff.

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    yukoasho

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    #29  Edited By yukoasho
    @ryanwho said:
    Patrick isn't trolling Nintendo and Fox News doesn't have a right wing bias.
    Trolling?  Nintendo's stock went down 21% in the blink of an eye.  Any other company would have had heads rolling left, right and center over this, and I'd be surprised if no high-profile Nintendo employees are shit-canned in the coming months. 
     
    You may not like to hear it, but this shit is news.
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    yukoasho

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    #30  Edited By yukoasho
    @McShank said:

    Well.. sounds like its a good time for McShank to start investing in nintendo stock as I doubt nintendo will die.. but rather bounce back to where they were before at least.. And if im wrong o well, cant be worse then buying lottery tickets and waiting till they draw the numbers and see you didn't win for the 101th time..

    Actually, how difficult IS it for Joe Westerner to get Nintendo stock?  Is it easy to get into the Nikkei without someone in Japan to do the trading?
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    LiquidPrince

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    #31  Edited By LiquidPrince

    @mech4399 said:

    !!! I wish I had $500 Million to lose.

    I wish I had $500 million and didn't lose it... that would be better.

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    WEGGLES

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    #32  Edited By WEGGLES
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    ArchTeckGuru8

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    #33  Edited By ArchTeckGuru8

    Man... a 21% drop sounds like quite a bit. How much is the company worth overall though?

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    McShank

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    #34  Edited By McShank

    @FourWude said:

    @Hailinel said:

    @FourWude said:

    The collapse is coming.... soon enough...

    So you're looking forward to the collapse of a corporation and the loss of jobs?

    THAT'S EXACTLY WHAT I'M INSINUATING IN MY POST.

    Fucking retard.

    Or maybe, just maybe.... I'm just stating that there is an imminent collapse of the videogame industry. Something which I've posted on numerous times, to the point which I find it tedious to even talk about it.

    But you're absolutely right, I'm gonna dance butt fucking naked in the streets when Nintendo has to lay off thousands of jobs, because that's how I get my kicks.

    ZOMG ME TOO! *dancing naked in the streets*. I am guessing this is why my buddy over at nintendo (Redmon) has yet to call me about getting a job there anytime soon : /

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    DougQuaid

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    #35  Edited By DougQuaid

    As Matt Kessler would say, "The winds they are a-changin'."

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    FourWude

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    #36  Edited By FourWude
    @McShank said:


    ZOMG ME TOO! *dancing naked in the streets*. I am guessing this is why my buddy over at nintendo (Redmon) has yet to call me about getting a job there anytime soon : /


    Broaden your horizons beyond the videogame industry. Unless the companies headhunt you, or you're extremely talented in your profession, this isn't the time to be joining the industry. Developers and studios are already being let go and shut down all over the world. Costs are being cut, IP's being binned, Publishers less willing to take risks etc. The real scary part is that this is just the beginning.

    Nintendo is one of the most profitable, professional and least risk companies in the Industry. They've been raking in money hand over fist the past 5 years. And yet a small downturn in fortunes has wiped out 1/5th of their stock, equivalent to $5 Billion. If it can happen to Nintendo, the Apple of the VG industry, it can happen to anyone else, on a much grander scale. 

    It's just the wrong time. That's how it rolls sometimes. But you never know you may get lucky.

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    Hailinel

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    #37  Edited By Hailinel

    @FourWude said:

    @Hailinel said:

    @FourWude said:

    The collapse is coming.... soon enough...

    So you're looking forward to the collapse of a corporation and the loss of jobs?

    THAT'S EXACTLY WHAT I'M INSINUATING IN MY POST.

    Fucking retard.

    Or maybe, just maybe.... I'm just stating that there is an imminent collapse of the videogame industry. Something which I've posted on numerous times, to the point which I find it tedious to even talk about it.

    But you're absolutely right, I'm gonna dance butt fucking naked in the streets when Nintendo has to lay off thousands of jobs, because that's how I get my kicks.

    It's not my fault your original post had all the apparent clarity of a kaleidoscopic acid trip.

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    Dylabaloo

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    #38  Edited By Dylabaloo

    Not surprised. They already made all the money with the Wii, it had no where to go but down.

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    crushed

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    #39  Edited By crushed

    It's not confirmed since the transcript hasn't been put up yet, but Iwata said at a shareholder meeting today that because of this stuff, the lowered earnings projection, and Nintendo taking a loss on each post-price drop 3DS, he'd be cutting his own salary in half and cutting the top round of exec's salaries by 30%.

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    LocoRocker

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    #40  Edited By LocoRocker

    hmm, great time to buy a nintendo stock option...

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    Aus_azn

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    #41  Edited By Aus_azn
    @patrickklepek said:
    "If the DS succeeds, we will rise to heaven, but if it fails we will sink to hell."
    He was pretty right on this point.
     
    While this sucks for Nintendo, I think it's the much-needed wake-up call. At this rate, I want to see them ditch consoles entirely and go fully handheld and as a 3rd-party console developer.
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    Lazyaza

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    #42  Edited By Lazyaza

    Seems Nintendo are destined to go back to their usual position in the market, no longer dominating but not failing completely, neither satisfying the hardcore nor taking complete advantage of the casuals.  I get the feeling next gen MS and Sony are going to get a very large portion of the once Wii-only crowd moving over to their new machines.

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    Levio

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    #43  Edited By Levio

    Nintendo has really gotten itself backed into a corner. The WiiU is going to be graphically inferior to the other next gen consoles, and the DS's casual market is being stolen by smartphone games. Just about the only 2 things Nintendo has going for it are its 1st party games and low console prices.

    It's gonna take a lot of cheesey marketing for them to keep people loyal to them.

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    Seedofpower

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    #44  Edited By Seedofpower

    Nothing grows forever.

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    Castiel

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    #45  Edited By Castiel
    I'm not sure how many of you remember former Nintendo president Hiroshi Yamauchi, the hard ass who used to run operations at Nintendo, and the man responsible for all of the above quotes, but he's having a bad day.
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    Bribo

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    #46  Edited By Bribo

    Quote 1 = arrogance. Quotes 2 and 4 = wisdom.
     
    Quote 3 would have to read "Gamers don’t just want beautiful graphics, sounds and epic stories" and have some sort of follow up to that statement, to make it an acceptable point of view - but it's impossible to know where to put the emphasis in that sentence or if there was a further point to be made. 
     
    Also, if it's in quotes, you don't need to italicise.

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    SeriouslyNow

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    #47  Edited By SeriouslyNow

    @FourWude said:

    @Hailinel said:

    @FourWude said:

    The collapse is coming.... soon enough...

    So you're looking forward to the collapse of a corporation and the loss of jobs?

    THAT'S EXACTLY WHAT I'M INSINUATING IN MY POST.

    Fucking retard.

    Or maybe, just maybe.... I'm just stating that there is an imminent collapse of the videogame industry. Something which I've posted on numerous times, to the point which I find it tedious to even talk about it.

    But you're absolutely right, I'm gonna dance butt fucking naked in the streets when Nintendo has to lay off thousands of jobs, because that's how I get my kicks.

    Your crystal ball skill are pretty shit. Companies like Nintendo often have swings and roundabouts. Nvidia lost almost 30% five years ago and now they lead ATI and the GPU market is still kicking. PC gaming isn't dead either. Oh and 2012 won't be the end of the world, just in case you were worried.

    You get your kicks being an egotistical windbag who knows nothing from nothing and rants about everything. You also started out talking about Guidos and you thought it was hilarious, remember that? Yeah, I do and nobody thought it was even remotely funny.

    The only imminent collapse is that of your skull due to the lack of brain holding it up.

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    onan

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    #48  Edited By onan

    I just noticed, Amazon has completely ceased sales of 3DS until August 12th when the price drop officially kicks in. Wow. That's kind of nuts.

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    vinsanityv22

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    #49  Edited By vinsanityv22

    Bad day, Schmad day. If Mr. Yamauchi is Nintendo's largest shareholder, than HE'S the guy whose been swimming around in his money vault daily since about 2006. It's real hard to sympathize for a guy who profited from Nintendo's ill-gotten success with the Wii. Stupid disposable audience that made the Wii - and now the Kinect, because they don't harbor any company loyalty or care about games - pumped so much money into Nintendo, and in turn, Yamauchi, it's not even funny. He could stand to have a few more "bad days" and still be richer than God, I bet.
     
    Nintendo needs to worry less about pure hardware and start focusing on getting some 3DS Software out there. Y'know, that stuff that third parties produce that you never support or advertise, Nintendo? But that's insanely important to a game console's health, regardless of what you think? Yeah, you should get some of THOSE on the 3DS.

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    jasondesante

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    #50  Edited By jasondesante

    Look at the art.  Nintendo is making their own systems, and catering to every demographic with a high quality game to suit every need, all within the first year of a systems launch.  Look at the art, it is better than it has ever been.  The people that appreciate it are still here, the sheep are just being herded into different directions but think of it this way.  
     
    The last time idiots tried to take over the game industry, they almost killed it.  Then Nintendo came along and made QUALITY, and brought the once dead console market into the abomination Microsoft turned it into.

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