Nintendo's Wii U Has Officially Flopped
The Nintendo Wii was a massive hit for Nintendo, but the Wii U is a bomb. Sales were already sluggish before the new PS4 and Xbox One arrived. The PS4 and Xbox One are both hits and there is only room for so many consoles in the homes of consumers. Reuters reports that Nintendo has lowered its Wii U global sales forecast for the year ending March 31 to 2.8 million units. That is a nearly 70% reduction in projected sales.
Nintendo cut prices of the Wii U last August. The price of the Wii U Deluxe fell from $350 to $300. We would not be surprised to see another price drop in the future.
Nintendo is now retooling its business strategy. Tech Crunch reports that smartphones could be on the horizion. That would be an interesting development.
Posted on January 18, 2014