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New Wii successor to be displayed at the E3 Expo this June

Nintendo announced today that it will be releasing a successor to the Wii system, and it will be on display at the E3 Expo in June.

The Nintendo Wii is a home video console that features a wireless controller called the Wii Remote, which can detect movement in three dimensions. This form of gaming revolutionized how consumers interacted with video games by allowing users to move along with characters on the screen. The Wii launched in November 2006, and broke the record for best-selling console in a single month in December 2009. 

But that isn't the case anymore. Nintendo has had to compete with other consoles like the PlayStation 3 and Xbox 360 from the start, but since the Wii's release, Sony and Microsoft have released motion-detecting accessories of their own. In September 2010, Sony launched the PlayStation Move for PS3, and in November 2010, Microsoft launched the Kinect for Xbox 360. Both feature motion-sensing game controllers and webcams much like the Wii. 

In addition to increased competition, the strength of the yen has affected Nintendo's profits as well. According to reports, Nintendo has "large cash deposits and other assets in foreign countries," and when these deposits and assets are converted to yen for net figures, Nintendo loses a lot of money because the yen is so strong while other foreign currency remains weak.  

In October 2010, Nintendo reported a $24.7 million net loss. Now, the video game giant is reporting a quarterly profit of 12 billion yen, or $146 million USD, which is not so great since Nintendo reported a profit of 59.9 billion yen last year. 

According to the consolidated results for the fiscal year ending March 31, 2010 and March 31, 2011, net income is down 66 percent for the quarter. The operating profit fell 52 percent from 356.8 billion yen to 171.1 billion yen.

But Nintendo is staying optimistic thanks to the recent launch of the Nintendo 3DS. In fact, the company expects to see an annual profit climb of 42 percent on the new gaming device. In its first week, Nintendo sold 400,000 3DS systems. 

"We are very satisfied with this start and we look forward to the momentum that we will build on Nintendo 3DS with the launch of the E-shop, the launch of the 3D trailers for Hollywood movies and the launch of 'The Legend of Zelda: Ocarina in Time' in mid June as well as the launch of Netflix later on in the summer," said Reggie Fils-Aime, Nintendo of America president. 

Now, Nintendo has even more to look forward to with a Wii successor due to launch in 2012. 

"As for the details of exactly what it will be, we have decided that it is best to let people experience it for themselves at E3," said Satoru Iwata, Nintendo CEO. "So I won't talk about specific details today, but it will offer a new way of playing games within the home."

The Wii's successor will be available on display at the E3 Expo in Los Angeles, California from June 7-9. 

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RE: They won.
By Hiawa23 on 4/25/2011 9:47:11 PM , Rating: 2
You say Nintendo blew the doors off MS & Sony. Well, I am glad I don't buy consoles based on sales. I own all three, only bought the Wii for my daughter. Can't think of one Wii game I like, well, Punchout, that's it, so I guess it depends on how you look at it. I love the 360, 90 games in counting, & 20PS3 games.

Nintendo may bring me back to the fold if the Wii2 is anything close to the speculation. Honestly, saying that it will be considerably more powerful than the Xbox 360(6 years old this year), & PS3(5years old this year), aint saying much, & I don't know about you but I certainly would hope that the console would be more powerful than what we have had the last 6 years, but will probably be considerably less powerful than the next Sony & MS consoles. I really did not like anything about the Wii other than virtual console, so if they do away with the waggle control or atleast not force it on us who don't want it, I am down, & should be great to get the great Nintendo games in HD & not look more like Gamecube games like we saw this gen with the Wii.

RE: They won.
By SPOOFE on 4/26/2011 1:33:05 AM , Rating: 2
Well, I am glad I don't buy consoles based on sales.

A console's success is independent of your buying patterns. :)

saying that it will be considerably more powerful than the Xbox 360(6 years old this year), & PS3(5years old this year), aint saying much

Sure it is; it's saying that Microsoft and Sony will have added pressure to update their hardware. Unless Nintendo changes business models, their ability to put out hardware that surpasses 360/PS3 would be predicated on their ability to manufacture it cheaply enough to be profitable from day 1. That suggests that if another of the big players were to try to release a similar console using their subsidized-gaming model, they'd be able to put out hardware that's even more powerful still.

RE: They won.
By SPOOFE on 4/26/2011 1:34:08 AM , Rating: 2
I shouldn't have said "similar console" at the end there; I should have written "release a console in a similar time frame".

RE: They won.
By Hiawa23 on 4/26/2011 10:24:09 PM , Rating: 2
A console's success is independent of your buying patterns

Well, this is what I rank consoles on. The console that I buy the most games for or plays the most, or plays at all, & as of today, there was only one game I liked on the Wii.

You say MS & SOny will have added pressure. I doubt it, as MS has already started working on the replacement for the 360 & Sony surely has something in the pipeline. The way I see it, there is no reason for Sony or MS to rush out new consoles, regardless of what Nintendo does.

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