Sega shares hit by forecasts of further losses
Published: 30 Oct 2000 10:33 GMT
Shares in Sega plunged nearly ten percent in Tokyo Monday after the maker of the Dreamcast console announced Friday that it expected to make a loss for the fourth consecutive year.
Rather than a previous estimated profit of 1.5bn yen (about £10m), Sega now expects to lose 22.1bn yen (roughly £145m) in the year to March. Sega's shares have fallen 60 per cent since the start of 2000.
The company recently moved into online gaming with SegaNet, and cut the cost of a Dreamcast.
Friday's announcement also included plans to supply its existing games for other console platforms. Analysts believe this move may be a mistake, as letting gamers play Sega's software on another console such as Sony's PlayStation 2 will hit Dreamcast sales.
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