Nintendo is likely to miss out on its projected ¥100 billion profit projection for the financial year, according to analysts. In addition, Wedbush Morgan’s Michael Pachter has stressed that he company “steadfastly refuse” to believe that the Wii U is in a tight spot.
We reported on Nintendo’s Q3 financials in October. Despite only selling 300,000 Wii U consoles worldwide, company president Satoru Iwata refrained from lowering his ¥100 billion profit forecast.
Now, a Bloomberg report suggests that the launch of PS4 and Xbox One, along with the migration to smartphone and tablet play is detracting interest away from Wii U.
The site adds that analysts are getting itchy feet over the matter, with average sales predictions of ¥57 billion profts and year-end Wii U sales of 6.2 million units. The console released Christmas 2012, with Iwata promising year-end sales of 9 million consoles.
Pachter himself predicted 6 million Wii U sales for the year, and added in an email statement, “[Nintendo] steadfastly refuse to consider that the product is not interesting to consumers. They will fail to hit 9 million, and they will likely miss their profit goals.”
The report finds that 460,000 Wii U machines were sold across six month period ended September 30.
What’s your take on Nintendo’s situation?
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