Nintendo post $324m loss as iPad now the fastest growing video game platform

EA games have said that Apple's iPad is now the fastest growing video games platform - that's bad news for Nintendo who posted a $324m loss and says it will slash the price on it's 3DS console.

So why do developers spend millions on console games when small micro-payment games look like the future?

Console can only claim 40% of the video game market as phones and pads become move available and users can download games whenever they want at little or no cost.