This hasn’t been the greatest month for Nintendo, posting its third annual loss and then watching its stock value crumble 18 percent after the adjusted forecast. Still, as Nintendo always does, it is carrying on and even acknowledging it has a problem.
At the end of last week, the stocks slightly recovered from a low of $14.53 to a weekly high of $16.36. Not quite making back the massive amount of money that Nintendo lost in the hit, but still, rises are always nice no matter the size.
Nintendo President Satoru Iwata has acknowledged that Nintendo misread the market with the Wii U, but has resisted calls to pull from the hardware circuit. He will continue to push on as head of the company, and reshape the Wii U’s image to last for a few more years before jumping into another generation.
Those wondering about the damage the Wii U has done to Nintendo should stop and look at how long this trend has gone on. This marks the third year Nintendo has posted for a loss, but the Wii U has only been available for a little more than just one of those years. Some forget that the Wii spiked really early in its lifetime but petered out in the end of its life. The problem lies not with the Wii U console in itself, but rather Nintendo’s messaging and reliance on the old way of doing things.
I applaud Nintendo for not giving into trends and turning their machines into silly multipurpose media boxes. It’s a shame that focusing more on games and less on social interactions is hindering the company’s health. Abandoning the hardware scene and going third party is the worst idea if Nintendo wants to succeed long term as it always has done, but a new focus is obvious at this point.
Nintendo has the grit and cash stock to outlast this console generation, but where does it go from here? The DS brand is as strong as ever, but the Wii brand couldn’t be more rusty. What’s the next big thing from Nintendo?