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Bloomberg: Nintendo lags profit, Wii U sales forecast

  • 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.
Comments (2)
  • Matthew Davis
    , contributor
    Comments (4235) | Send Message
     
    Really sad they should have waited and made a clone of the new consoles instead of cloning an Xbox 360. We have a Wii U and its really good. Innovative controller design but no one wants to develop for them. It has potential, and I am surprised not even start up game companies are trying to develop for them.
    4 Dec 2013, 09:27 PM Reply Like
  • Deloreanman85
    , contributor
    Comment (1) | Send Message
     
    What Nintendo suffers from is bad Marketing. The Wii U Nintendo console is brilliant and a great value, but to get the most out of it it requires that you have friends [or family] who can show up in your living room, that is where this console thrives, local gameplay.

     

    Unfortunately, this is something that is hard to do these days for some. But damn is it a great console with the best exclusive games of the next gen systems.
    6 Jan 2014, 01:04 PM Reply Like
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