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Japanese gaming giants Nintendo and Sony both reported their Q1 2009 fiscal results. Unfortunately, both companies were hit hard by slumping sales. Gross revenues for Nintendo fell nearly 40% from last year, leading to a 60% drop in profits. Sony has actually moved the games division inside of a new division called Networked Products & Services. Because of this it is difficult to make an accurate year over year comparison. However, it looks as though Sony has lost about 40% in revenues and 20% in net profits. Needless to say, the gaming industry is not nearly as recession proof as was once thought. |