Growing up, most gamers became accustomed to playing their video games with a physical controller while sitting in front of the television. This was generally the status quo up until 2006, when Nintendo released Wii and changed the way we play. While the Wii got gamers off the couch, it wasn't widely accepted by core gamers because it didn't suit their traditional gaming experience.

But Nintendo president and CEO Satoru Iwata explained to investors that the Wii U would be different. He said that core gamers would accept the Wii U because it can be played in a conventional way, and because it has high definition visuals. 

"Wii was not accepted by core gamers because they did not want to abandon their preferred control approach," said Iwata. "Additionally, Wii did not use HD because HD cost performance at the time was low. Wii U makes it easier to use conventional controls. Also, the Wii U controller is not as big or heavy as it looks."

But investors and analysts alike are just as unsure about the Wii U. Many questioned Nintendo's tactics at E3 when it featured more demos about the hardware rather than the games it would launch, which led many to believe that the Wii U would have a poor line-up of games when it came to launch time. 

But Iwata noted that "Zelda HD" would be released for the Wii U only, in hopes of attracting longtime "Zelda" fans as well as those interested in increased HD adoption. 

"Regarding 'Zelda HD,' Japanese developers said that it could not be replicated on other machines," said Iwata. 

Iwata added that several Wii U reactions around the world were positive, including those from Los Angeles and overseas media. He also mentioned that those who actually played the Wii U had a different reaction from those who just covered it online.

"There were high expectations from the new version of the Wii and this fell far short," said analyst Yusuke Tsunoda. "People had expected to see something more at a big event like the E3, but there wasn't really anything more than what's already reported."

Nintendo's share price fell to its lowest value in five years "following the unveiling of the Wii U." 

The Wii U is expected to be released sometime after April 2012.