Nintendo: The Wii U Bombed
Company slashes sales forecast almost 70%
By Kevin Spak, Newser User
Posted Jan 17, 2014 2:16 PM CST
Members of the media watch a presentation at the Nintendo Wii U software showcase during the E3 game show in Los Angeles on June 11, 2013.   (AP Photo/Jae C. Hong)

(Newser) – Nintendo's console business might be on its last life. The company today slashed its Wii U sales forecast for the year ending in March by a staggering 70%, anticipating sales of just 2.8 million units, Reuters reports. It also halved its projection for Wii U game sales to 19 million units, and dropped its 3DS forecast from 18 million to 13.5 million. The numbers are especially bad, because the second year of sales is typically a peak period for consoles, the Wall Street Journal points out.

"We are thinking about a new business structure," President Satoru Iwata said in an apologetic news conference, according to Bloomberg. He said the company wanted to take advantage of mobile gaming, but "it's not as simple as enabling Mario to move on a smartphone." Some analysts say the company is investing heavily in research and development, and could even have a new console in the works. Despite losing money for now three years in a row, the company is sitting on $4.44 billion in cash.

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Ezekiel 25:17
Jan 18, 2014 11:48 AM CST
So for Christmas 2012 a nephew wanted a Ninetindo DS and being of the cunning and smarts of his parents he said, "You can wait until after Christmas to buy it as you can get me more games in the clearance sales." But Ninetindo had other plans. They recalled much of the available stock and game prices actually went up. They wanted us to buy a Wii U instead. So, in the end we got it off Ebay and he got the games he wanted also. Nothing like it when a manufacturer declares war on consumers.
Jan 18, 2014 6:42 AM CST
Nintendo went downhill when they censored the first Mortal Kombat game while Sega allowed full violence in it. Basically, Nintendo bet that the kiddy market was what gaming was all about and they lost that bet in spades. Nintendo's hardware fell behind as well.
Jan 18, 2014 1:50 AM CST
They can hire that guy Yahoo just fired and come up with a Kardashians game.