Today at an investors' event in Tokyo, Nintendo president Satoru Iwata was once again frank, admitting a "miscalculation" was made about the game market.
"The mood of the market got colder than expected," said Iwata, "and there was a miscalculation." This comes as Nintendo records its first decline in profits in six years.
Iwata disclosed that there were no extra resources in the company that can combat the slide in profits this year — Nintendo is aware of the weak software releases this year. Iwata did mention that the Wii Vitality Sensor will be out in 2010 and stressed that it is more than a simple heart rate monitor and that it will actually be fun.
"Now, we are preparing for next year and thinking about what to do the year after next," said Iwata. "We're thinking about our best chances for success." For some this signals sequels and perhaps new hardware from Nintendo.
When asked if Nintendo was worried about increased portable gaming competition from the iPhone, he replied, "In the marketplace, our presence is growing."