Word: nintendo
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...BUSINESS Nintendo: The Console Wars...
...BUSINESS Nintendo: The Console Wars...
Christmas is supposed to be a happy?and wildly profitable?time, at least if you're Satoru Iwata, CEO of Nintendo, one of the world's leading makers of video games. And during the '80s and '90s, it was a joyous holiday. For most of that time, the Kyoto-based game company could count on at least one of every two game consoles gift-wrapped under Christmas trees to have been manufactured by the firm. And each of those game boxes would generate revenue streams that trickled well into the new year, as customers became addicted to Nintendo-owned franchises...
...company's latest console, the GameCube, has proved to be an unmitigated disaster, giving this holiday season the potential to become the Winter of Iwata's Discontent. Nintendo has suffered such a string of bad news over the past few months and posted such disappointing financial results over the past few quarters that many investors, analysts and industry watchers are wondering whether the onetime industry giant can hit restart?or at least pause?in an increasingly competitive video-game industry. Not only is Nintendo struggling to keep pace with its larger, better-funded rivals?Sony and Microsoft?in the console...
...inventory clogged with millions of unwanted GameCubes, Nintendo had to suspend production on the boxes for the first nine months of this year. Such operations snafus contributed to the company's first half-yearly loss since going public in 1962. Breaking the firm's profitability streak became an embarrassing black eye for Iwata, who had the great misfortune of taking over the company from legendary CEO Hiroshi Yamauchi a year-and-a-half ago?just as the bottom was falling out. Coming off its worst year in history, the company desperately needs a successful Christmas season...