Iwata: Nintendo Considering ‘New Business Structure’

Nintendo CEO Satoru Iwata has revealed that the company is considering a "new business structure" following the announcement earlier today that none of the company's hardware sales targets will be met for the current fiscal year ending March 31st. 

At a press conference attended by Bloomberg Iwata warned that developing Nintendo games for smartphones would not solve the company's problems: 

“We are thinking about a new business structure. Given the expansion of smart devices, we are naturally studying how smart devices can be used to grow the game-player business. It’s not as simple as enabling Mario to move on a smartphone.

“We cannot continue a business without winning. We must take a sceptical approach whether we can still simply make game players, offer them in the same way as in the past for ¥20,000 or ¥30,000, and sell titles for a couple of thousand yen each.”

Iwata is determined to remain as CEO of Nintendo despite the company's poor performance and has insisted that he is interested in long-term viability rather than making a quick buck.  

The Wii U will sell just 2.8 million units compared to the nine million forecast while the 3DS will move 13.5 million systems, down from a projected 18 million. Finally, the Wii is expected to sell 1.2 million units while Nintendo had originally anticipated sales of two million.