Hey Matt Martin of gamesindustry.biz what’s up with Nintendo’s profits these days?

Nintendo could announce its first drop in profits for six years, according to market watchers.

Income for the Japanese giant is likely to fall 11 per cent to JPY 249.3 billion, the first drop since the 12 months ended March 2004, according to Bloomberg.

“Nintendo may cut its profit projection about 30 per cent because of sluggish sales in the first half, the price cut for the Wii and currency-related impact,” said Satoru Kikuchi, of Deutsche Bank AG in Tokyo. “Investors are expecting the company to fully reflect its business environment in its forecast.”

The company will announce its results on October 29, and had originally forecast JPY 300 billion net income this year.

Sales of the Wii console have been falling, with the hardware outsold by Sony’s PlayStation 3 last month in the US.

Nintendo was the last of the big three hardware manufacturers to cut the price of its console in the US, Japan and Europe, although the street price remains the same in the UK.

Oh no, a foreseen drop in momentum could lead to a decrease in profit that will still be higher than most of the industry’s profits for the first half? Oh God NO! Only a total company overhaul in preparation for the Wii HD could possibly save them now. The mythical Wii HD as foretold by Michael Pachter that doesn’t actually exist so don’t get your hopes up and stop trying to get people to believe that one’s coming.

And people writing this month’s news that the PS3 outsold everything like it was a shock, a SHOCK. No it wasn’t a shock. It was expected by everyone. Everyone. EVERYONE. – The Ben