Satoru Iwata: I Will Not Step Down as Nintendo President

The company can still turn around the Wii U home console

Satoru Iwata, the president of video game company Nintendo, says that he will not step down as president and that he is not planning a major change to the leadership, after the announcement that a big loss was projected for the end of the fiscal year.

NeoGAF quotes the executive as saying that he takes full responsibility for the failures of the hardware maker and publisher and a full apology has been issued to shareholders.

Nintendo says that it will take a loss of 240 million dollars (175 million Euro) on March 31, 2014, most of it linked to the worse than expected performance of the Wii U, which is expected to move just 2.8 million units to customers.

The projections for the 3DS have also been cut from 18 to 13.5 million.

Iwata believes that Nintendo can turn its fortunes around as long as it focuses on its core business of delivering good gaming experiences to players.

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