President of Nintendo spoke of the company’s future strategies during its financial results briefing. There were a few interesting announcement such as attracting customers through smart phones.
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Satoru Iwata said he will take a 50% pay cut for four months to help calm investor’s concerns. Here is the summary of the meeting.
After apologizing for the big cut in the full-year guidance, Iwata said he is nor pessimistic about the outlook of the Wii U console. It is still the centre of Nintendo’s strategy and the company will not abandon its hardware. They will instead focus on developing software that showcases the Wii U Gamepad’s capabilities. Along with games built for the device, and one of those is Mario Kart 8 which will be released in May 2014.
President Iwata highlighted that Nintendo went through some drastic changes in its 125 years long history and will overcome the latest issues by adapting to new ways of video gaming. Marketing strategy is getting revamped for the upcoming holiday season. Iwata also stated that several features will arrive with a future system update for the Wii U. Users will get to play certain DS games on the Gamepad and a new quick start menu will allow players to load a recently played game.
Shigeru Miyamoto, game creator at Nintendo, spoke about criticism over the small Wii U software library. He blamed it on the technological hurdles the company faced making Wii U console. This has now been worked out to make developer’s job easier.
Regarding mobile devices, Iwata said that the company is not looking to extend the Nintendo Network ID to smart devices in order to create stronger bonds with customers. It will basically give users some sort of on-demand service. To attract new customers, the company is planning to license character rights to new partners. This is how Nintendo will attempt to expose its products to a larger consumer base.
"We will be flexible about forming licensing relationships in areas we did not license in the past, such as digital fields," said Iwata, "provided we are not in direct competition and we can form win-win relationships."
The main focus for the next 10 years will be enhancing the quality of life through entertainment. President Iwata stated that the key word is health and how Nintendo is working on non-wearables to monitor player’s health. Details of the new venture will be revealed later this year and will launch for the fiscal year through March 2016.
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