After anticipating sales of 9 Million Wii U units between April 2013 and March 2014, Nintendo revised its earnings. The company should sell only 2.8 million consoles globally, which represents a 69% drop compared to earlier estimate. Wii U is officially a flop!
Fiasco and Fallacy
At press conference, Satoru Iwata, the Game-Video giant`s president blamed both the US and the European markets for pulling down sales;
‘In particular, sales in the U.S. and European markets in which we entered the year-end sales season with a hardware markdown were significantly lower than our original forecasts, with both hardware and software sales experiencing a huge gap from their targets. ‘
Last year`s end has been particularly tough for the Wii U console launched in 2012, with Play Station 4 and Xbox One touting spectacular features and sales figures. In fact Sony and Microsoft seduced gamers` living room with integrated television facilities. Nintendo on the other hand, has been late to react and to adapt to the market. Despite the popularity of Wii U`s high-profile game, Super Mario 3D World, Nintendo failed to bounce back.
Bad news never come alone
Aside weak sales numbers, the Japanese firm also announced that it foresees a massive operating loss of Y25bn , “We can no longer expect our financial performance to recover in the current fiscal year” Iwata indicated.
Upon opening of Tokyo Stock Exchange this Monday, Nintendo`s shares tumbled and fell as low as 18 percent. Experts say only Mario can save Nintendo, by being adapted to the smartphone environment. Only time will tell if Nintendo can score higher marks!
Source: Mashable, Financial Times, fanpop