News Article

Mixed Wii U Reaction and Share Dip Doesn't Faze Iwata

Posted by James Newton

Proceed with confidence

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.

[via nintendo.co.jp]

More Stories

User Comments (27)

47drift

#1

47drift said:

In my opinion, people would be less skeptical about Wii U if it didn't have Wii in the name. That way it really does feel fresh and new and won't be misinterpreted as simply working off the success of its predecessor.

Spoony_Tech

#2

Spoony_Tech said:

I think they will be making a mistakes if the graphics aren't more powerful then the current HD consoles. I can see both Microsoft and Sony with a new system out in the next two years and were will that leave the WiiU at. Behind the times once again. The controller looks nice and all and I'm sure we will see some amazing things from it but it will probably be all from Nintendo for the most part.

DestinyMan

#3

DestinyMan said:

It's going to be another year before we can say with any kind of clarity that the Wii U is a success or failure, and speculating is just that, speculating. We have the rest of this year to learn more about the Wii U and early next year as well, so there's still a lot to learn.

MariosLoveChild

#4

MariosLoveChild said:

@ 47drift.

Exactly what i've been thinking since they announced the name of it.
A consoles name should not make people decide whether they like it or not, the problem is though, a lot of people out there will be thinking this is just another add on for the wii.

They really need a new name for it, something which will make it stand apart from the wii. keep the wii going for the kids and people who just want party games, and the new console for gamers who will be buying the marios, zeldas etc {how many of those games were sold on wii compared to how many wii's were sold}

UNC5052

#5

UNC5052 said:

@5 and 2

I agree, when talking to other people about the 3DS, many people believe that it is just a new DS like the DSi and it can just make DS games in 3D. While the name fits the system, it can also hurt it because some people think it is on the same generation. I think that the Wii U may have some of the same problems with its name.

timp29

#6

timp29 said:

If I had any money I would have started buying nintendo shares. That dip would equal future jackpot.

Nintonic

#8

Nintonic said:

I hope that they can put skype on the 3ds. I need a good way to communicate with my friends over Wi-Fi. They could at least bring back picno chat.

zeeroid

#9

zeeroid said:

@GreatManaTree: I dunno bro, playing Nintendo games on a PlayStation would be pretty sweet. But I get the feeling Nintendo's more likely to go down with their ship, should it come to that (doubtful, really, since they're still very profitable), rather than bail out and hop aboard the Sony boat.

Rawk_Hawk

#10

Rawk_Hawk said:

They could call it the Super Happy Fun box for all I care as long as it has a great library of HD games and a better online service.

Rapadash6

#11

Rapadash6 said:

Obviously a lot of us are still tending the burns Nintendo inflicted on us with it's response to Operation Rainfall, so I think even among the most die hard fans, faith in the company just might be at an all time low right now. That being said, as much as I hate the higher ups running Nintendo, I have to give Iwata the credit he deserves. He took a company that was on it's way out and made it relevent again. He's a smart business man, and he's clearly demonstrated that he can not only innovate the products his company sells but also recognize when there are problems to overcome too. He's made it clear he sees what's going on with 3DS and Wii U, in terms of the publics general perception of these products, and I'm anxious to see what his solutions are. Is he guarenteed to make everything peachy keen again? Of course not, but he's shown in the past that he's more than capable to take on the task, no matter the outcome.

komicturtle

#13

komicturtle said:

Well, as much as I support Operation Rainfall, the reactions is a bit much. Then, we have people who hate Nintendo taking advantage and 'pretending' to be fans- when they're just taking an opportunity to hate (Similarly when PSN went dow, fanboys of the others join in the hate).

I'm confident of the WiiU. I'll be saving money for it and I'm surely going to enjoy it. PS4 and nextBox isn't a worry for me as I may even get one of them for Sony/MS (not really 3rd party) exclusives. And even if those systems are more powerful (positive it won't be drastic), it will not leave WiiU behind as some people are saying.

I'm still sticking to the "WiiU is the PS2 of this generation"

Underpowered of the 3, but not by a whole lot (Wii vs 360/PS3 for example). Soul Calibur 3 is a beautiful game exclusive on PS2. And still holds up even today (especially it's art direction).

Anyhow....

I still want Art Academy U. :)

Rapadash6

#14

Rapadash6 said:

@komicturtle92

Peaple who hate Nintendo? Are you being serious? Take your fanboy glasses off and look at the situation for what it is and not just as a forum for people to attack Nintendo. Nintendo is a wonderful developer and deserves accolades for that but as a business, they leave so much to be desired and I don't understand how anyone couldn't agree with that.

To make it as clear as possible for you; Nintendo games = good. Nintendo company = bad.

lex0plex

#16

lex0plex said:

@47drift
Actually I think the problem is with the colour. I would like to see a red and black system. Then we'd have green and black Xbox, blue and black PS3, and redd and black WiiU.

White is soooo boring...

Incredible-JMAN

#17

Incredible-JMAN said:

at least change the name! "wii u" does not sound hardcore!
Girlfriend: hey, do you have any video games?
Boyfriend: yeah! I have the wii u!
Girlfriend: ....we're breaking up

Infernapeking

#18

Infernapeking said:

Name is a name get over it. I will call it the Wii Ultra or Ultimate.
Those who dont like the Wii Ultra will see the same situation but better then it was for Wii. Wii U will dominate cause the games we are getting for it. Nintendo, SEGA, Capcom, Konami, Square Enix, Activision, EA, Namco, THQ, Ubisoft and others developer who are going to work for it and the developers we had for DS and Wii.
You people are complaining about childish things color and name. Wii U wasn't made to be talk about that it is the games and controls.
I see some non Nintendo Fan here.

Zach

#19

Zach said:

I can't begin to count how many girls have broken up with me over the quality of my video game collection, though. ;-)

Infernapeking

#20

Infernapeking said:

Wii Ultra will probably have all the DEVELOPERS in the world once it release. While PS3 and Xbox 360 get no games cause Ubisoft said developing game for them is hard and frustrating. No wonder on two Assassin Creed game came out so far and Tom Clancy's games.

Chrono_Cross

#21

Chrono_Cross said:

The only way the Wii U can succeed is if the Wii U does everything the Wii did wrong, right, and at the same time do everything the Wii did right, right again.

WolfRamHeart

#22

WolfRamHeart said:

@12: I think that I would actually prefer it if Nintendo's new console was called the Super Happy Fun Box instead of the Wii U.;)

JebbyDeringer

#23

JebbyDeringer said:

Well it goes to show how much of a farce the economy is. It's based on perception more than anything else.

cecesigue

#24

cecesigue said:

People is not getting the size of company Nintendo is :/
And maybe not getting that Playstation is just a part of a HUGE company.
What im trying to say is that you will never see the same moves, strategies and media supports Microsoft and Sony give to their consoles.
With this in mind, please don´t compare Nintendo with Sega when this last one stopped making consoles due low sales.

Hokori

#26

Hokori said:

@26 agreed Sega was dying the moment the Saturn was released IIRC, and Nintendo still makes profit to this day.

motang

#27

motang said:

Stuff like this happens, it's best to move and show the people what you new product will be.

Leave A Comment

Hold on there, you need to login to post a comment...