Nintendo is making entirely new consoles for emerging markets (update)

Nintendo's Wii U woes are well known by this point, but the Japanese company's latest move to expand its gaming reach is incredibly unexpected. Rather than pare down the existing Wii U hardware for emerging markets, the outfit is developing entirely new consoles according to Bloomberg. "We want to make new things, with new thinking rather than a cheaper version of what we currently have," company president Satoru Iwata said. "The product and price balance must be made from scratch." Curious about what Iwata meant by "cheaper versions?" Well, the 2DS and Wii Mini might offer hints in the direction.

Update: Iwata has told Reuters that Nintendo will offer the new hardware in countries like China, and that it'd be targeted toward those with lower income and less gaming experience.