While Sony and Microsoft showed off the power of their upcoming systems at this year's E3, Nintendo announced a wealth of new first party Wii U titles with the aim to entice more people to buy into its latest home console.

Currently, Wii U has a relatively low install base and this is a big stumbling block for Nintendo as it attempts to lure more third party publishers to create games for the system.

In an interview with CNN Money, President of Nintendo of America Reggie Fils-Aime said Wii U "is next generation" and that he is confident it will flourish once more first party titles emerge on the system:

The one truism about this business [is] software sells hardware and we're confident that we've got a range of software that's going to drive the install base of Wii U and it's going to create an opportunity, not only for us but for third party publishers to monetise the platform.

He drew parallels with how the 3DS was doing at this point in its life and how it picked up once the top titles, such as Super Mario 3D Land and Mario Kart 7, arrived. He believes the same will happen with Wii U once must-have titles make it to the shelves.

Reggie believes the future is bright for Wii U and thinks the console gave a good account of itself at this year's E3 even amongst the noise being made by its big rivals.

We're here at this E3 with a lot of confidence and a lot of belief that this holiday season is going to be extremely strong for Wii U.

What are your thoughts on Reggie's standpoint? Are we seeing the same issue 3DS had at the start of its existence? Let us know in the comment section below.

[source money.cnn.com]