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Wii U sales forecast lowered, no price cut coming

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Nintendo has released its sales figures and earnings report for the third quarter of the financial year, which ran from October 2012 to end of December 2012. It looks like the festive period didn’t provide the boost in Wii U sales that Nintendo was hoping for, as they’ve now been forced to revise their target of 5.5 million Wii U consoles sold by the end of March 2013. The new projected sales figures for the Wii U console is 4 million units by the end of the financial year. Nintendo president Satoru Iwata said that the poor Wii U sales figures have had “a negative impact” on the company’s overall profits for the quarter; they’ve posted a loss of ¥5.8 billion (about R 580 million).

To date, Nintendo has sold a total of 3.06 million Wii U consoles. The majority of those were sold in the USA, where a total of 1.32 million consoles have been snaffled up since the November 18th launch. Despite the slower than projected uptake, Nintendo has no intention to initiate a price cut.

“With Wii U, we have taken a rather resolute stance in pricing it below its manufacturing cost,” Iwata said during the earnings report, “so we are not planning to perform a markdown. I would like to make this point absolutely clear. We are putting our lessons from Nintendo 3DS to good use, as I have already publicly stated.” In 2011, Nintendo nearly halved the price of the 3DS in order to boost sales. Prior to that, however, Nintendo was selling the unit at a profit.

Sources: Polygon and The Verge

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