Nintendo Announces Its Third Consecutive Annual Loss As Its Wii U Sales Continue To Plummet

Nintendo Announces Its Third Consecutive Annual Loss As Its Wii U Sales Continue To Plummet (Ping! Zine Web Tech Magazine) – It looks as if the holiday season was not as good to Nintendo as it was for its competitors, Sony and Microsoft.

On Friday, Nintendo announced that its sales are significantly lower than they were expecting, making this its third consecutive annual loss.

According to GameSpot, the company expects to only sell 2.8 million Wii U consoles, as opposed to the estimated 9 million units they were striving for.

Additionally, the company has cut its sales forecast by a third, expecting a 25 billion yen net profit loss by the end of the fiscal year.

“We are thinking about a new business structure,” stated Nintendo CEO, Satoru Iwata, at a press conference in Japan. “Given the expansion of smart devices, we are naturally studying how smart devices can be used to grow the game-player business. It’s not as simple as enabling Mario to move on a smartphone.”

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