Trade association for UK video game industry says Nintendo has the brains and financial brawn to overcome disappointing Wii U sales forecast
TIGA, the trade association representing the UK video game industry has today commented on Nintendo’s reduced sales forecast for the Wii U, down from 9 million units to 2.8 million. This change means the Japanese giant is now projecting a £205m loss rather than the originally forecast £587m operating profit.
Unsurprisingly, Nintendo shares fell as much as 18% on the Tokyo stock exchange today before regaining some ground to close down 6.2%. This latest forecast is accompanied by reports that Nintendo has sold 4.3m Wii U consoles to retail outlets around the world since its launch in November 2012. Meanwhile, Microsoft’s Xbox One and Sony’s PlayStation 4 have reportedly sold 3m and 4.2m respectively in less than three months.
Dr. Richard Wilson, CEO, TIGA, commented:
“It appears Nintendo’s killer app gap, with so few exclusive must-have games coming out in the Wii U’s launch window really is denting sales.
It’s also true that compared to PlayStation 4 and Xbox One the Wii U is suffering from a lack of clarity in its marketing messages and a traditional casual gamer customer-base that’s being eroded by the rise of mobile and tablet gaming.
“However, we should never count out Nintendo, it is an amazing company with a brand and heritage cherished by millions of people around the world and a library of IP with a magic few other publishers can match.
“Moreover, we are talking about a business with the best selling video game console of 2013 in the 3DS, and over $10bn in the bank.
“Talk of exiting the hardware market is severely premature, and with an early 2014 line up including the likes of Super Smash Bros, Mario Kart, Donkey Kong and stellar newer acquisitions such as Bayonetta, bleak as it looks for the Wii U, the game is a long way from over.”
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