Nintendo cuts 2016 earnings guidance and says it will sell 1M fewer 3DSes than predicted

Nintendo needs to release a new system or get that mobile money rolling in soon because its current business is coming up short.

The publisher revealed this morning in a financial filing on its site that it is expecting to generate 12.3 percent less in revenues for its fiscal 2016 than it originally predicted. Nintendo is now telling investors that it will finish the 12-month period ending March 31 with $4.43 billion (500 billion yen) in sales. That’s compared to the $5.05 billion (570 billion yen) the company originally predicted it would make this fiscal year. This diminished guidance comes as the result of an unfavorable foreign exchange rate for the Japanese yen and sluggish sales for the company’s 3DS portable gaming system.