Nintendo's shares fell 10% after the Wii U was revealed, a surprising result considering many of the hands-on impressions of the console were positive. Nintendo president Satoru Iwata is puzzled by this situation, but still has faith in Nintendo's new console.
Answering questions at the company's 71st annual general meeting, Iwata responded to a shareholder concerned about the "current flagging stock price". Iwata believes the reception at E3 was very good, with many Nintendo Wii U previews being positive, but that perhaps this didn't translate well to the Japanese audience via webcast. He also noted a difference in response between those who played the console and those that hadn't, citing this as a possible reason for the share dip:
From this difference in understanding, people in the stock market responded with, "Wii U doesn't seem innovative" or "I don't think Wii U will sell as well as the Wii," and that caused the decline in the stock price.
Recognising that Nintendo must work hard to convey the system's value to consumers, Iwata reasserted that the dip hadn't shaken the company's faith in Wii U, and its development will continue in line with the positive hands-on responses.
I sincerely understand that many shareholders are attending this meeting today to express the feeling "Do something." On the other hand, what we should be doing, and my main responsibility is to complete the development of the good value of Wii U, which has been appreciated by those who have had hands-on experience, launch the product next year and make it a product that sells even better than the Wii.
Iwata also took the opportunity to remind attendees of the mixed reactions both Wii and DS received when they were originally unveiled, and they turned out all right. Time will tell if Wii U can repeat the success of these previous consoles.