Nintendo Relies on Wii U Hail Mary

By Alastair Stevenson on January 26, 2012, 9:25AM EST
Wii U3DS

Following on from its disastrous financial forecasts, Nintendo has confirmed its latest Wii U console will be release in "all major markets" by the end of the year.

The revelation was made by Reuters, which alleged Nintendo's president Satoru Iwata had confirmed the device's release while speaking about the company's financial projections. Specifically Reuters reported Iwata as confirming that would Wii U will be available in Japan, the US, Europe and Australia by the end of the year.

The news comes after fresh forecasts appeared indicating the company would post a massive $65 billion loss for the financial year. The initial under performance of the company's 3DS handheld was again cited as a key reason for Nintendo's ailing fortunes.

In the last quarter the Nintendo 3DS continued to underwhelm. According to Nintendo only 3.07 million 3DS units were sold during the quarter. Software sales were also somewhat low with the company reporting 8.13 units of software -- games -- sold during the quarter. Iwata himself has already apologised for the device's poor performance, promising the Wii U would learn from the 3DS mistakes in late 2011.

Source: Reuters

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