Nintendo issued a warning today that profits for the April to September period were likely to result in the Japanese console manufacturer's first loss for the period - this as a result of missed targets to the tune of 9% - possibly one of the reasons behind last week's price-cut.

A loss of 3bn yen (approximately £16.2m) for the six months to September 2003 were predicted today, and saw shares dive by 6% in almost immediately. The consumer association also condemned the to £79 ($131), which still makes the Cube more expensive here than anywhere else. Which isn't likely to please UK gamers too much.

"GameCube is getting beaten by and Xbox," analyst Takashi Okatani of Shinko Investment Trust Management told the BBC. "GameCube sales have been slowing since last year. The forex issue is an additional blow." The company's misery has also been compounded by falls in the value of the US dollar.

By Luke Guttridge

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