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Nintendo Confirms Losses, Wii U Reveal For E3 2012

Author:
Jonathan Lester
Category:
News
Tags:
E3 2012, Financials, Nintendo, Wii U

Nintendo Confirms Losses, Wii U Reveal For E3 2012

"We Learned A Bitter Lesson"

Nintendo's recent investor briefing has confirmed the massive losses reported by Japanese newspaper The Nikkei two days ago. President Satoru Iwata told shareholders that he feels "greatly accountable" for the company's weak financial situation, and that a "bitter lesson" was learned over the last year due to the 3DS' stagnating software sales. A slow (read: practically non-existent) first party title release was (correctly) blamed as the major culprit.

However, Ninty plan to claw their way back to the top with "new genres of software" as well as an increased first party lineup... and the full Wii U hardware reveal has been scheduled for E3 2012. An upgraded eShop will also attempt to capitalise on the 3DS' high internet connection rate. You can read the excruciatingly detailed document through the link.

I'm no analyst, but I'll tell you this for nothing. With Microsoft's next generation Xbox strongly rumoured for an E3 unveiling - and Nintendo's truly awful mishandling of the Wii U this far - they will have to absolutely nail the reveal in order to inspire confidence from gamers and investors alike. It's going to be a trying year for the classic company, but here's hoping that they can develop their way out of this current crisis.

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