Nintendo Q1 - $221m loss on of revenue $1.08bn. Shipments: 1.86m 3DS, 710k Wii, 540k DS

[Kresnik]

kowenicki said:

Nintendo cash reserves fell from $10bn to $5.9bn in the 12 months to March 2012, that needs to slow down dramatically.

What has caused that?  3DS price cut, slow Wii sales & exchange rate?  Quite a significant loss of reserves.

edit: I suppose Wii-U R&D as well.