Support NeoGAF

[maxcriden]

Iwata will cut his pay from February to June, and other company directors will take pay cuts of as much as 30 percent. The president has said he won’t step down after 12 years running the company, and he has no plans to change managers in the near term.

I’m concentrating my mind on how to rebuild Nintendo rather than how I would take responsibility when things don’t work out in the future.

The Wii U isn’t in good shape. That’s the presumption we have as we consider reform.

With regards to plans to acquire ten million of its own shares, Satoru Iwata explained this as a step to compensate for poor sale conditions, and to reward shareholders in any way possible.

That won’t merit shareholders, that’s why we decided on the buyback. But that’s not all the reason. We’ve been rewarding our shareholders mainly through high dividends, but we cannot generate as much profit as we used to make.

Further price cuts are unlikely to spark fresh demand for the console, Iwata said today.

More at the links:

http://www.nintendolife.com/news/20...isnt_in_good_shape_ahead_of_investor_briefing

http://www.bloomberg.com/news/2014-01-29/nintendo-plans-1-2-billion-buyback-after-wii-u-flops.html

Please understand (and lock) if old.

 

[shinobi602]

You don't say.

 

[Relaxed Muscle]

No shit sherlock!

 

[phosphor112]

But I thought "U" was a letter, not a shape.

 

[Jarmel]

Further price cuts are unlikely to spark fresh demand for the console, Iwata said today.

That's part of the problem though, even if it's not the only problem.

 

[Koppai]

They should probably just stop producing more systems and let whatever is out there sell first.

 

[Atrophis]

You don't say.

No shit sherlock!

Amazingly some people here are still in denial. Maybe this will finally convince them?

 

[donny2112]

Further price cuts are unlikely to spark fresh demand for the console, Iwata said today.

... until we can remove the GamePad and patch some older games that require it!

 

[Ylyon]

well, I like his attitude. Lots of people in his shoes would blame the market, bad luck, aliens and so on

 

[Wishmaster92]

Iwata it's easy:

- Stop building cheap/underpowered consoles. Make a competitive console.
- Stop charging so much for said machine. Wii U deluxe was $350 up until recently, yet the PS4 is infinitely more powerful (and has a bigger hdd) all for $50 more? Lol....

 

[Andrew.]

"I understand"

 

[antitrop]

Should have went with a standard controller and upped the specs to be more competitive with the One/PS4, therefore allowing easier porting for third-parties.

The fact that Tropical Freeze isn't even using the screen on the controller at all, shows that they never had any idea what they were supposed to do with that thing.

It was a deeply flawed system from day 1.

 

[koopas]

So Iwata do these blue box games work on my Wii or not?

 

[mantidor]

Amazingly some people here are still in denial. Maybe this will finally convince them?

who?

 

[Vibranium]

Iwata should have said "As we all know, the Wii U is not in good shape". At least Scott Moffit can temporarily shut up now.

Props to him for the pay cut though, I respect that. At least he is understanding now.

 

[SymbiantXenos]

Wii U fit may help

 

[PBY]

Forward momentum doe?


Really hoping this translates to price cuts. Make it 150 and I'm there. Cut anything to get it there- gamepad included.

 

[CSX]

You don't say.

Dat first post taking the words out of my mouth

 

[Gorillaz]

Please get in good shape.

 

[kris.]

at least he's starting to admit it. only way to go but up now!!

Spoiler

next nintendo console? two screens!!

 

[Relaxed Muscle]

I’m concentrating my mind on how to rebuild Nintendo rather than how I would take responsibility when things don’t work out in the future.

I hope this implies great changes starting from the company roots.

 

[IllumiNate]

So he knows that a price drop won't work. I'm wondering what then he may have planned.

 

[LiK]

He always states the obvious after the fact.

 

[Deleted member 17706]

Of course further price cuts would increase demand. The only question is whether it would be enough.

One thing is for sure, they need to stop positioning this thing as a premium piece of hardware. It isn't, nor does it feel like one. They're going up against the PS3 and 360, so they need to be priced like they are.

 

[Azih]

Ok we got the the apology and the please understand. When do we get the please look forward to?

 

[Guevara]

Amazingly some people here are still in denial. Maybe this will finally convince them?

Nope.

Also confirming the obvious: that the buyback is a handout to shareholders, in lieu of dividends. Burning cash.

 

[Plinko]

The first step to fixing a problem is admitting there is one. Finally.

I have a feeling they drop this thing much, much sooner than expected.

 

[Corronchilejano]

Amazingly some people here are still in denial. Maybe this will finally convince them?

Enjoying the Wii U != denying its in bad shape.

 

[Dictator93]

He always states the obvious after the fact.

Yeah, he is a master at that. And cognitive dissonance.

 

[cw_sasuke]

Forward momentum doe?


Really hoping this translates to price cuts. Make it 150 and I'm there. Cut anything to get it there- gamepad included.

He just said that further price cuts aren't the answer or possible.

 

[Andrew.]

He always states the obvious after the fact.

Hey man that's just the Japanese culture......man

 

[bigbaldwolf86]

I shall now call you Captain Obvoius

 

[Van Owen]

They should launch key titles throughout the year to drive the install base to attract third parties.

 

[Canis lupus]

It only took you a year to find out.

 

[Bedlam]

Further price cuts are unlikely to spark fresh demand for the console, Iwata said today.

This guy is nuts.

The current price neither appeals to the casuals (they are lost anyway) nor to the core-gamers who would be willing to purchase the WiiU as a second console (those are the people they should be after).

 

[Relaxed Muscle]

Of course further price cuts would increase demand. The only question is whether it would be enough.

One thing is for sure, they need to stop positioning this thing as a premium piece of hardware. It isn't, nor does it feel like one. They're going up against the PS3 and 360, so they need to be priced like they are.

I think Iwata point is what some ppl have been saying all along: ultimately Wii U is not an attractive product. Even if they decide to do another price cut is not going to do much because the consumer is not interested in such a product.

 

[Danny Dudekisser]

Good thing Wii Fit U is on the way!


Edit: It's already out! You have no excuse, WiiU!

 

[Aquamarine]

I believe Iwata is starting to recognize the futility of supporting the Wii U whole-heartedly. It's just a bad product.

 

[Neff]

Wii U deluxe was $350 up until recently, yet the PS4 is infinitely more powerful (and has a bigger hdd) all for $50 more? Lol....

But the Wii U has the Gamepad, backwards compatibility and free online play. Let's at least acknowledge the pros and cons of both.

 

[Fantomex]

To be honest, If I had all the money in the world and was in charge I have no idea how I could save the U. I seriously don't. Throw money at third party for Exclusives? Add more power to the Wii U with an adapter type device? Cancel the Wii U and come out with a new console like U-Ultra!, I mean I'm stumped. The only thing that makes sense is to drop it to $199 and throw in a game.

 

[breakfuss]

Nonsense. A price cut will help. A price cut, alone, will not.

 

[Mihael Mello Keehl]

Hes only saying it to confirm hes not oblivious contrary to what experts here believe.

 

[ZeroCDR]

My body is ready for an Ambassador program.

Those 30 cent games don't count :\

 

[Relaxed Muscle]

But the Wii U has the Gamepad, backwards compatibility and free online play. Let's at least acknowledge the pros and cons of both.

Is that really a pro?

 

[MilesWebber]

People! He's saying this publicly to be on record when they decide to cease production. Classic CEO move.

 

[chrislowe]

Tell the developers that the second screen-controller is no more.
Then you remove all wii-bc stuff in the console.
And put a pricetag of $150 for a modell without storage, but that accepts any usb-mass storage device, like external hdd.

Then I would buy tomorrow.

 

[Andrew.]

Further price cuts are unlikely to spark fresh demand for the console, Iwata said today.

It's not the price son. It's the name. The name is like 80% of the fucking problem in my eyes. Too late to go back now though.

 

[zigg]

Iwata it's easy:

- Stop building cheap/underpowered consoles. Make a competitive console.

I don't see room for another HD twin in the market.

 

[PK Gaming]

Looks like Nintendo is backed into a corner...

They need activate their limit break

 

[PBY]

He just said that further price cuts aren't the answer or possible.

I mean- you don't telegraph future cuts. But they have to do something