After saying in January that it would report its third consecutive annual operating loss, the company surprised analysts and investors by disclosing that it plans to focus on nonwearable health monitors as part of a new 10-year strategy.
In response to significant losses and frustrated shareholders, the company that has created so many icons says it might be open to buying others — or perhaps even merging its portfolio with someone else.
During a financial briefing in Japan Thursday night, the struggling game maker announced plans to create a new platform centered around ‘non-wearable’ health monitoring.
No one had a better view of the development and evolution of the Wii than Satoru Iwata.
Throughout the console’s seven-year life-cycle, the president of Nintendo acted as its biggest cheerleader, defender and, at times, critic. He was a driving force in the company selling over 100 million systems and is now trying to spur that sort of interest in the Wii’s successor.
Yamauchi not only transformed Nintendo, he transformed the entire games industry, rescuing it from the brink of obsolescence in the 1980s. He ran the company for 53 years, overseeing four generations of home consoles — the NES, SNES, N64 and Gamecube — before handing the reins to Satoru Iwata in 2002.
AllThingsD is reporting that Apple plans to host an event the first week of March to launch the new iPad — which is largely expected to be called the iPad 3 (though keep in mind we all expected the company to unveil the iPhone 5 last year, so the name may be different).
Sick of watching CEOs cashing out while their company — and employees — suffer? So is Nintendo. After slashing the price of the Nintendo 3DS, the company is cutting executive salaries just as ferociously.
Global president and CEO Satoru Iwata announced Friday at a meeting with shareholders that he would be taking a 50 percent cut to his fixed salary as a show of responsibility for the dismal quarterly earnings and failure of the 3DS to catch on. In addition, members of the board of directors are taking a 30 percent pay cut, while other executives will see their paychecks cut by 20 percent.
Satoru Iwata, global president and CEO of the game giant, effectively fell on his sword for the 3DS’s lagging performance, today announcing he felt a “very great responsibility” for the situation and would be taking a 50 percent salary cut.
[In an interview with Gamasutra editor-at-large Chris Morris, Nintendo’s Satoru Iwata says his company began thinking about the Wii U right after the Wii’s launch, and outlines the firm’s home console and software pricing strategies.]
Hindsight’s a funny thing.
Given the staggering out-of-the-gate success Nintendo saw with the Wii, you might have expected the company to push back its next generation planning for a year or two to focus on ensuring third-party partners understood how best to succeed on the Wii, ultimately extending its appeal in the market.
When Nintendo’s global president Satoru Iwata rocked this year’s Game Developers Conference with his controversial comments about developers of social and mobile games, there were a lot of questions. Was the company showing fear? Was it being too rigid in its thinking? Was Iwata actually right on the money?
A few people, though, were asking a more practical question: If the company felt this new breed of garage developers (like Rovio in its early days or Tiny Wings developer Andreas Illiger) were undervaluing their games, why not establish an opportunity for them to sell to the Nintendo audience at higher prices?