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Nintendo Wii U release date to come after E3 2012 as losses mount

The last few months have been tough for Nintendo as it has seen sales of its Wii console drop off, as well as a slow take up of its new 3DS handheld console. The company is working hard to try and improve things though with price cuts and new hardware being released. We can now tell you that the Nintendo Wii U release date is to come after E3 2012 as losses mount for the company.

The company reported today that it would post its first ever annual net loss for this financial year. According to Reuters a strengthening Yen and low software sales had a big part in these losses. The company is coming under increased pressure from smartphones and tablets as gamers choose these platforms to play games on the move.

Nintendo expects an annual net loss of twenty billion yen, which will be the first in the company’s history. It also dropped its full year operating profit forecast to only 1 billion Yen, down from 35 billion. Since the company dropped the price of the 3DS sales increased, and a new line up of titles for the device is also hoped to boost sales.

The company will be pinning its hopes on its next generation of home console to replace the aging Wii, and has revealed it will show the Nintendo Wii U in its final form at the E3 event in the US in June. The device will then be launched after that, and the unit was first revealed at this year’s E3 with mixed reactions to it.

Do you think the Wii U will save Nintendo’s bacon?

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