Friday, October 30

Iwata: Wii has stalled

From the onset, the Nintendo Wii has been a sales juggernaut, since 2006 when the system was released, they've been flying off store shelves by the tens of millions. Now, things have slowed, stalled even.

Nintendo's Satoru Iwata has said that despite the company's drop in profits for six months period ending September 30th, he's convinced that the recent price cut will help, as long as it sell systems.

"We has stalled," Iwata reckoned at a press conference. "We were unable to continually release strong software, and let the nice mood cool. We were unable to show a new game to become 'the next thing.' In the market, once you've lost momentum, it takes time to recover."

"With the price drop, sale returned to a certain level, but they just did not reach the level of last year around this time. We decided that it would be difficult to sell enough to recover from the poor performance of the first half of the year," Iwata continued.

"In order to reach it [20 million units], we'll have to move quite a large quantity, but it's a figure we released after having felt the momentum returning [based on the price drop]."

It's been a tough year for Nintendo, the company's operating income fell are disheartening 58.6 percent from the same period last year. Will Nintendo release the rumored Wii 2 to help stimulate sales? At this rate, it's anyone's guess.

Get the full thing here.

10/30/09 Ernice Gilbert

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