Reginal Thomas
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Nintendo Considers New Business Model After Forecasting Loss

The President of Nintendo Satoru Iwata announced today that the video game machine maker is considering a new business model after forecasting a $240 million annual loss because of low demand for their flagship Wii U. The company has fallen the most in more than nine years in the U.S. Nintendo was expecting profits of 55 billion yen for the year ending in March. The company has cut its forecasts for Wii U console sales to 2.8 million from 9 million and for Wii U games sales are now expected to come in at 19 million from an original 38 million. Nintendo has been losing gamers to mobile devices, and the faster consoles from Sony and Microsoft.