Nintendo has cut its profit forecast by a third due to what it's calling lower than expected sales of the Nintendo 3DS console this year. The company was hoping to finish the year with annual profits of 35bn yen but this has since been reduced to 20bn instead.

The company, in a financial report to investors, has put this reduction down to two main causes; firstly sales of their Nintendo 3DS console have been much lower overseas than expected and secondly the appreciation of the yen.

Nintendo Wii U release date:

Nintendo is however hoping that the impending release of its Nintendo Wii U console will help compensate for some of their losses with the company predicting that it'll sell at least 5.5 million units by the end of April next year.

The console is revolutionary in that it offers a new way of gaming through the touchscreen controller letting players interact with the game in a number of new ways.