After a rough start in this fiscal year, Nintendo presdient Satoru Iwata dramatically scaled down the projected sales forecasts of both the Wii U and 3DS last night. Original projected sales figures for the Wii U were cut from 9 million to 2.8m, while the 3DS has been slashed from 18m to 13.5m.
Iwata personally apologized to shareholders in a company meeting. The news means that Nintendo now expects another full year in the red.
Overall net income for the year was previously expected to be a profit of 55 billion yen, but is now thought to be closer to a net loss of 25 billion yen. The Wii U’s failure to sell in overseas markets makes a lot more sense than the 3DS’, as it was the top-selling hardware platform in both the US and the UK in 2013. Whether Nintendo grossly exaggerated their expectations, or they were simply overconfident in the amount of hardware they’d be able to push on to Western consumers isn’t known.
Iwata’s job does not appear to be in any real danger, and he has vowed to remain in his post and bring the company back into profit.
More details on the company’s financial situation will be published by Nintendo at the end of January.