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Nintendo to stick with hardware platform strategy: CEO

30
Jan
2014

Nintendo Co Ltd President Satoru Iwata said on Thursday the company was sticking to its strategy centered on a combined hardware and software platform, which has come under criticism after the flagship Wii U console posted poor sales. Iwata said he remained committed to video game consoles, a day after the Japanese company posted dull quarterly earnings and announced a share buyback to soothe market worries about its strategic direction. But our approach is not to put our games on smartphones. Nintendos shares fell after Iwatas remarks, adding to the heavy pressure the stock has come under since the company announced earlier this month that it would post its third annual operating loss in a row. Kyoto-based Nintendo posted lackluster results for its traditionally strongest third quarter on Wednesday after disappointing sales for its flagship Wii U console forced it to slash its annual forecasts earlier this month.

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