A Nintendo representative told Financial Times that the company isn't distressed. "It is still the first few months of the year when sales are slow for the industry so we are not particularly concerned," the spokesperson said. "We hope to line up strong software to support hardware sales in the second half of the year." Nintendo has already lined up at least one strong title: Capcom's Monster Hunter 3, which will likely spark an increase in Wii hardware sales when it launches in Japan this summer.
Of course, the main reason for Nintendo not to fret over falling Wii sales is that the company continues to sit at the top of the sales charts with the DS platform.