Nintendo Cuts Sales Forecast for Wii U by 70 Percent

Failing product

Nintendo has confirmed what we knew already: its unhappy controller/console combo, the Wii U, is a flop. The company said hardware sales of the Wii U had failed to reach its target during the year-end, pushing it into a third consecutive annual loss, Reuters reports.

"We failed to reach our target for hardware sales during the year-end, when revenues are the highest," said Nintendo's president, Satoru Iwata, at a shareholder briefing on the sales figures.