Nintendo cutting Wii U hardware sales projections from 9 million to 2.8 million units, and software projections from 38 million to 19 million units, has led to renewed speculation about the security of Iwata's position as the company's President. Crucially, Nintendo were forced to announce a 25 billion yen loss, which is the third consecutive year they've announced a loss.
During a press conference on Friday, Iwata said that he would not be resigning his position, but he did have some striking words to say about the future of company, according to Bloomberg:
"We cannot continue a business without winning... We must take a skeptical approach whether we can still simply make game players, offer them in the same way as in the past for 20,000 yen or 30,000 yen, and sell titles for a couple of thousand yen each."
"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."