Iwata apologizes for Nintendo's financial situation, says 3DS is turning around
The following comes from Satoru Iwata...
To begin with, I feel greatly accountable for missing our financial forecast for the half year ended September and revising downward our forecast for the full year.
Strong momentum is very important for game platform businesses and a strong software lineup to vitalize a platform is necessary to maintain this momentum. In the first half of this year, however, we could not make the continuing sales of the first-party software released last year as we had planned, nor, in the course of preparation of the next platform, could we release new key titles for the existing platform in a timely fashion due to completion delays until the latter half of this year.
As the worldwide number of pre-orders indicated, the Nintendo 3DS, our new platform launched this year, had high expectations from consumers as well as market and industry players. However, the actual sales after the launch did not meet the expectations, and based on the judgment that we could not get it back to its originally-anticipated sales pace as a sound successor to the Nintendo DS unless we took action, we made an immediate decision and announced the price markdown around three months ago, at the same time of the announcement of financial results in late July. The present result of the markdown is just an improvement of sales pace of the hardware. After the upcoming November, however, anticipated titles for Nintendo 3DS will be continually released, which we hope will bring a big boost in the year-end sales season. We would like to thereby fulfill our responsibility to ensure bright prospects for this platform toward the next fiscal year and beyond.
This year-end sales season seems like it will have much more impact than in usual years. I will be explaining this to you with some data later.
Link
To begin with, I feel greatly accountable for missing our financial forecast for the half year ended September and revising downward our forecast for the full year.
Strong momentum is very important for game platform businesses and a strong software lineup to vitalize a platform is necessary to maintain this momentum. In the first half of this year, however, we could not make the continuing sales of the first-party software released last year as we had planned, nor, in the course of preparation of the next platform, could we release new key titles for the existing platform in a timely fashion due to completion delays until the latter half of this year.
As the worldwide number of pre-orders indicated, the Nintendo 3DS, our new platform launched this year, had high expectations from consumers as well as market and industry players. However, the actual sales after the launch did not meet the expectations, and based on the judgment that we could not get it back to its originally-anticipated sales pace as a sound successor to the Nintendo DS unless we took action, we made an immediate decision and announced the price markdown around three months ago, at the same time of the announcement of financial results in late July. The present result of the markdown is just an improvement of sales pace of the hardware. After the upcoming November, however, anticipated titles for Nintendo 3DS will be continually released, which we hope will bring a big boost in the year-end sales season. We would like to thereby fulfill our responsibility to ensure bright prospects for this platform toward the next fiscal year and beyond.
This year-end sales season seems like it will have much more impact than in usual years. I will be explaining this to you with some data later.
Link
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