Many have suggested over the last few months that Nintendo would be introducing a new product at E3, but Nintendo insists there will be no new hardware. It will not be announced at the L.A. games convention, but there is a new platform in the works. There is not much known about it aside from the fact that it is supposed to be different from what hardcore gamers are used to. Many fans are disappointed at this new information. According to Satoru Iwata, the new platform will be announced at the end of Nintendo’s financial year. So, expect to hear about this new product sometime between now and March 2015.
It has really come as no surprise that these rumors are false, as Nintendo seems to be having a horrible fiscal year. Nintendo is looking at a 25 billion yen loss, instead of a 55 billion yen profit. This does not bode well for Iwata, because the board meeting is coming up in June. It is also said investors are not happy with this loss of profit. Iwata has even taken another 50 percent cut in his pay. He also took a 50 percent cut pay back in 2011. It seems as if they put all of their money into the Wii U and Nintendo 3DS and it is not selling as well as they hoped. This is probably why Iwata and Nintendo insists there will be no new product at E3. If the company is smart they will focus on new games which seems to be lacking with the Nintendo. Iwata is hoping the pay cut will satisfy the board and he will be re-elected in June. He even went as far to tell investors that there will be no major changes in management.
The main games they seem to be focusing on right now is Super Mario Bros. Smash. In the past Mario Bros. has been the most successful, with Zelda not far behind. So, this will probably be the selling points if Nintendo wants to keep out of the red in the next fiscal year. This may or may not save Iwata’s job though. His approval rate has slowly declined over the past three years. In 2011 his rate was 93 percent, now his rate is only 77 percent, and steadily declining. Another way Iwata is trying to build momentum, is by buying back Nintendo stock (worth 125 million yen.)
This could also be a trick of the Nintendo company to make gamers believe there is no reveal. It would not be the first company to pull this trick. Only waiting until E3, will provide the answer to whether or not Nintendo’s claim insisting no new product will be revealed, is true. As gamers are ramping up for E3, they must remember that rumors will always be rumors until they see for themselves that no new product is being pitched, at least not at this time. Remember that all good things come to those who wait. At this current time it does not look like Nintendo is financially able to support any new products. If Iwata does not watch his step, he could very well send Nintendo into bankruptcy.
Opinion by Heather Tillman