Nintendo's Profits Fall During Fiscal Year, Wii Successor Confirmed

The fiscal year ending in March 2011 has proven to be a bloodbath for Nintendo as their loss of earnings has been reported.

Nintendo's shares dropped 66% and according to Joystiq, this marks the third year for profit declines which is not what Nintendo previously predicted.

Also reported from Nintendo's camp is that the previously rumored "Wii Successor" will be at E3 in the form of a playable model.  Nintendo has the new console that is supposedly more powerful than the Xbox 360 and Playstation 3 set to launch sometime in 2012.

via Nintendo Investors