Fourth Quarter Round-Up: Apple Post Record Profits, Nintendo and Nokia Report Huge Losses

By Zesty

Nintendo and NEC

Nintendo, the brand that created the much loved games consoles of the 80s and 90s as well as popular hand-held devices such as the DS, reported its first annual loss of its history today, estimated at $575 million. This indicates a major shift in the gaming landscape, with many people now playing games on their smartphones. Nintendo need to connect to what consumers want to become a brand that people will actually spend money on, rather than becoming a nostalgic reminder of their childhood.

In more bad news for Japanese businesses, the 113 year old electronics firm NEC, today announced it is to cut 10,000 jobs following a loss of $1.25 billion, with BBC reporting that NEC attributes the loss in its mobile phone business to its rivals increasing their share in the market.

The losses at Nintendo, NEC and Nokia illustrate just how tough it can be to maintain a strong foothold in the tech industry – with new startups coming up all the time – as well as the difficulty of keeping up with the competition (namely Apple) and not only give consumers what they want, but forsee what they’ll want in the future.

However it’s not all plain sailing for Apple, who have been scrutinized by the media over the working conditions of those who make their products. However, despite the issues faced by these companies, the battle between the big tech brands will no doubt be a fascinating fight to watch in 2012.