Nintendo Slashes Wii U Target Sales and Forecasts Net Loss

A recent report from the New Straits Times suggest that Nintendo is still striving to get back in the game as the company’s profits are nowhere near as good.

Last Friday, Nintendo confirmed that it is expecting a loss of around $240 million in the year up to March. Whereas, just recently, Nintendo has forecasted a profit of $55 billion Yen, which is almost twice of the amount it is expecting to lose now.

Furthermore, the company has also slashed targeted sales for their handheld Wii U. The company was expecting Wii U to sell about 9 million units, which is now cut back to only 2.8 million units globally.

While speaking to a Press Conference in Osaka, Nintendo President Satoru Iwata stated that they were not able to lift the sales momentum for Wii U in the holiday season and that decreased software sales is having the worst impact on the company.

During the year-end shopping season, we weren’t able to lift sales momentum for the Wii U. The decrease in game software sales is having the biggest impact on profit. My duty, more than anything else, is to revive our business momentum.

When we talk about the rival companies, Microsoft has managed to sell over 5 million units of Xbox One since its launch. As for Sony, Playstation 4 has managed to get ahead of the pack with more than 7 million units sold worldwide.

And now that Microsoft has sought entrance in Chinese market, their sales will definitely see an improvement. As for Nintendo, their every move seems to have a negative impact on the company. It’d be interesting to see what they have planned for the upcoming E3.