Affected by the absence of new games, Nintendo Company was well disappointed by a downfall of its annual profits. The annual forecast of Wii video game is also expected to go down.

The net profit of the company went down by more than half to 69.49 billion yen (770 million dollars), as compared to 144.83 billion from the last year. The company expects a lower net income till March, which can fall to 230 billion yen ($2.5 billion).

The company had slashed the prices 20 percent a month ago, after the sales of the best-selling console in the U.S. and Japan were down. This was as a result when Sony Corporation lowered the price of the PlayStation 3 by 25 percent.

“Consumers are cutting unnecessary expenses in the face of falling disposable income, and Nintendo can’t avoid that”, said Kiyoshi Ishigane, a senior strategist at Mitsubishi UFJ Asset Management Company.

Net income dropped by 52 percent to 69.5 billion yen in the second quarter and the third quarter as compared to 144.8 billion yen last year.

While the operating profit of the year went down by 33 percent, the company expects a drop in the sales by 18 percent. Also, the company made a cutting in the annual sales from 26 million to 20 million.