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Nintendo Slashes Wii U Sales Forecast 70%, Cites Third Straight Annual Loss
Despite numerous marketing ploys and price cutting, the Wii U has failed to meet Nintendo’s sales predictions, leading to their third straight annual loss. In lieu of this, Nintendo has slashed their sales forecast for the Wii U by a staggering 70%.
In a report from Reuters, Nintendo president Satoru Iwata revealed the bad news. After another disappointing year of sales, Nintendo has lowered their expectations to just 2.8 million sales, down 70% from their initial forecast. Those hoping the 3DS, which has been more succesful, would salvage the company aren’t getting any good news either, as Nintendo has lowered their expectations for the handheld too. The previous prediction for the 3DS was around 18 million, but that figure has been lowered to 13.5 million.
“We failed to reach our target for hardware sales during the year-end, when revenues are the highest,” said Nintendo’s president, Satoru Iwata. However, he put an end to speculation that he would be resigning. “There will be no major management shake-up in the short term,” he said.
Suddenly, seemingly invincible Nintendo is facing some serious trouble. With the Xbox One and PS4 dominating console sales, some experts believe this could be the beginning of the end for Nintendo as a console maker. One possibility, although I can’t say how feasible it actually is, is to open some of Nintendo’s valuable IPs, such as Mario, Metroid and Zelda, to the other consoles. The thought of playing a new high-definition Metroid or Mario on my PS4 is certainly enticing, but I am not going to pretend this is likely.
“The fact that the ‘Wii U strategy’ has failed is disappointing and will likely trigger a sell-off as soon as the market opens,” said Makoto Kikuchi, chief executive of Myojo Asset Management.
This is obviously bad news for Nintendo. They have been around so long, it almost doesn’t seem right to think they could exit the console market.