Nintendo's Iwata acknowledges slow Wii U sales, but no price drop is coming

Yesterday Nintendo revealed its new Wii U console was selling more slowly than it had anticipated, and today company President Satoru Iwata explained the issues to investors in more detail. What he made clear immediately, is that unlike the launch of its 3DS in 2011, Nintendo will not attempt to boost its sales by cutting the price anytime soon. So, how can the Wii U's fortunes be turned around? According to Iwata, the problem is a software lineup that has "not yet fully communicated the value of our product." The system updates we've already heard were in the works are expected to help in the short term. The plan is to earn 100 billion yen or more in the next fiscal year, with the 3DS already selling at a profit he hopes to return to a pattern of "Nintendo-like profits."

As far as the Wii U, the plan is to strengthen its software lineup throughout the spring and summer, with more system exclusives arriving later in the year (announced last week on Nintendo Direct). The delayed Google Street View-powered Wii Street U update is expected to arrive in mid-February, and other demonstrations are planned for GDC in March as Nintendo attempts to capitalize on an internet connection rate of 74 percent. He also referenced the planned integration of its handheld and console divisions, intended to make software and apps more portable between devices.

Nintendo's Iwata acknowledges slow Wii U sales, but no price drop is coming