Following Wii U Unveiling, Nintendo Shares Drop 10%
Posted by Trevor Chan
Iwata: "It's very strange."
Much like the 3DS, Nintendo is adamant that Wii U has to be seen and experienced first-hand if it is to be understood. Could this be the reason why Nintendo shares took a plunge following the new console's announcement at E3?
In the two days following Nintendo's E3 conference on Tuesday, shares dropped by almost 10 percent. Nintendo president and CEO Satoru Iwata was reminded of the mixed reaction that Wii was faced with when those who hadn't experienced it failed to realise its potential. Although Wii U was undoubtedly one of the highlights at this year's expo, Iwata finds the drop in Nintendo's stock strange, to say the least:
Honestly speaking, the reaction to [Tuesday's] presentation and what I heard from people I met and the mood of the convention did not chime at all with what happened in the stock market... It's very strange.
When Wii launched in 2006, Nintendo shares tripled in the following year but as of Friday, stock is down 0.9 percent at 16,310 yen.
Iwata is keen to point out that Wii U is not just a console with a tablet peripheral and when it launches next year, Nintendo hopes to convince the world that Wii U is for all types of gamers:
"In the end, it is easy to get the mistaken impression that this is just a game console with a tablet... People who came to the presentation and tried it out have understood very well that it opens up a lot of new possibilities. But people who have not tried it will find it hard to believe that this controller will change things... At the moment, there is a barrier between the Wii, which is seen as for casual users and the other companies' consoles, which are seen as for core gamers. We are questioning whether that barrier needs to be there...