Nintendo shares have suffered a massive hit following the weak sales of Wii U and the lower than expected sales of the Nintendo 3DS.
The company shares fell by almost 18 percent in Tokyo on Monday before they started to stabilize, finally closing with at least 6.14 percent down.
The company had to cut the sales forecast of its console and handheld after the lower than expected sales. Nintendo’s original forecast was to sell 9 million Wii U units and about 18 million 3DS units. The revised forecast is rather modest now and Nintendo expects to sell 2.8 million Wii U units and 13.5 3DS units.
Nintendo’s president, Satarou Iwata had earlier acknowledged the lower than expected sales for their hardware.
“We failed to reach our target for hardware sales during the year-end, when revenues are the highest,” said Iwata, at a shareholder briefing on the sales figures.
Iwata has no plans for resignation and will continue to hold the presidency of Nintendo. The Wii U is going to get some much needed software this year starting with Donkey Kong: Tropical Freeze in February and then later, Mario Kart and Super Smash Bros. Wii U. Nintendo has also announced a brand new Zelda spin-off for the Wii U, which will be based on the popular Dynasty Warrior series of Namco Bandai and will feature similar gameplay.
Do you think the Wii U is a dead-end for Nintendo or is there any chance of turning it around? Let us know in the comments below.