THQ drops guidance after uDraw sales lag

Publisher THQ has dropped its Q3 financial estimates after the Xbox 360 and PS3 versions of the uDraw tablet peripheral failed to hit sales expectations.

THQ says that is expects to drop guidance by around 25 per cent from $510-550m to around $383-413m.

It had expected the period to be its most successful Q3 in the company’s history.

"Despite uDraw’s strong success on the Wii in fiscal 2011 and market research indicating strong demand for uDraw on Xbox 360 and PlayStation 3, initial sales of our uDraw tablet and software on these high-definition platforms have been weaker than expected," THQ president and CEO Brian Farrell stated.