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Nintendo Closing Taiwan Subsidiary By End of May
Nintendo has decided on closing off its Taiwan subsidiary, Nintendo Phuten, by the of May; by which all employees will have exited the company, GNN reports.
Nintendo Phuten was responsible for sales of Nintendo hardware and software in the region of Taiwan. It was one of the lesser known Nintendo subsidiaries and after its closure the region will be handled by Nintendo Hong Kong instead.
Nintendo is expected to take even more drastic steps following a report earlier this year that revealed the company to have faced an operating loss of over $15 million for the year ending on December 31, 2013. This was primarily due to the dismal sales of the Wii U, whose projected sales were slashed regularly in every annual forecast.
That said, Nintendo has not provided an official word as to why they have closed down the Taiwan subsidiary. The lower than expected worldwide sales, as well as cuts to financial profit projections seem to be the cause here.
We’ll update this post if we hear an official statement from Nintendo.