Bloomberg: Nintendo lags profit, Wii U sales forecast

|About: Nintendo Co., Ltd. ADR (NTDOY)|By:, SA News Editor

Nintendo (NTDOY -3.9%) is on the cusp of another Wii U sales disappointment, Bloomberg reports.

In Oct., President Satoru Iwata stated the console and game maker would meet its forecast of ¥100B in profit and 9M Wii U units sold. Analysts have been skeptical, seeing ¥57B in profit and sales of 6.2M units instead.

Sparing no words, Wedbush's Michael Pachter said, "[Nintendo] steadfastly refuse[s] to consider that the product is not interesting to consumers ... They will fail to hit 9 million, and they will likely miss their profit goals."

In the first nine months of the year, the company sold only 850K units. Games sales are lagging as well, with 6.3M units sold in the same period vs. the company's annual forecast of 32M units. Nintendo already cut the price of the Wii U by $50 in an effort to bolster sales back in Aug.