Nintendo has announced a full-year loss of £283m, a figure far higher than the £165m predicted at Christmas is the companys first loss in over 30 years.

Blaming the smartphone market and the increase in mobile-gaming Nintendo has seen its handheld console the Nintendo 3DS sell just half of their predicted 11 million units.

This comes just months after Nintendo had predicted strong Christmas sales across the full range of Nintendo hardware form the aging Wii to the DS and glasses-free 3D portable powerhouse the Nintendo 3DS,

Due to this the company predicted that its slow start could see a first annual loss in three decades reach 20 billion yen (£165 million), of course this was a much lower prediction than the actual loss recorded.

"Sales of Nintendo DS hardware and Nintendo 3DS software were weaker than expected," the company said. "In addition, the yen appreciation was beyond expectation."

Ahead of the 2012 release of the recently unveiled Nintendo Wii U - check out our hands-on Nintendo Wii review - what do you make of the company’s struggling sales figures? Let us know via the comments box below.

Source: Telegraph