Nintendo stocks fall 13%, prompts exec pay cut
Looking at Nintendo's stock, it appears the tremendous success of the Wii and DS have essentially evaporated overnight. Shares for Nintendo closed down 13%, and were down as high as 20%. What are some of the repercussions?
Nintendo's shares have fallen to pre-Wii levels
Over the year, Nintendo has almost halved in price
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Shacknews
replyAndrew Yoon posted a new article, Nintendo stocks fall 13%, prompts exec pay cut.
Looking at Nintendo's stock, it appears the tremendous success of the Wii and DS have essentially evaporated overnight. Shares for Nintendo closed down 13%, and were down as high as 20%. What are some of the repercussions?-
I still have faith in you Nintendo. You won't let this setback hurt you for long. You will overcome this and get back to climbing to the top!
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I did enjoy the virtual boy for the 2 times I played it at a target somewhere.
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An executive pay cut?! Silly Japanese, you should be giving your executives massive bonuses to encourage them to do better. And then cut your workforce and dock the pay/benefits of the remaining plebes for failing to carry out the executives plans. /s
Nintendo will bounce back. They have had some other misses in the past (also involving 3D...) and will have more in the future.
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Jim Sterling on Destructoid noted that the 3DS was released two months early to placate shareholders, and now it's costing them lots of money. Do you think their shareholders will learn?
Good thing the Wii U is in development, but hopefully it's not simply another casual bubble.-
IMO it can't be, casuals aren't as eager to hop from one generation to the next.
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then why would they bother placate shareholders and release the 3ds two months early? Surely they would have known this would happen.
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It would've been that price and had the same issues regardless I think, sales should pick up this quarter (and obviously next) due to the price drop and some decent games coming out.
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I'm not really surprised. They're competing with Apple now. Nintendo has to seriously redesign hardware. The DS is a plastic piece of junk compared to the glorious metal/ glass industrial design of the iPhone/ Touch.
And it turns out that the App Store can pump out casual games by the boatload for about 98% of the cost of a DS game.
Adapt or die, Nintendo.-
I think you meant 2%.
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maybe they'll rethink that name? I imagine naming it the 3DS is partly why parents haven't bothered upgrading their kids DS's, imagine when the kids run around screaming about wanting a new Wii YUUUUU when they probably haven't touched their old Wii in ~8-12 months
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I think they're trying too hard to innovate, and they just keep falling behind. It's obvious that the core market doesn't want motion controls, 3D and Miis. As sad as it is to say, if the Wii U ends up as cheap and shovelware-y as it looks like it could, Nintendo could be the next Sega in just a few years.
We'll be playing Pokemon, Pikmin, Mario, Zelda, DK, and all their other first party IPs exclusively on Sony and Microsoft hardware.-
I think the problem is that they DID innovate with the DS and Wii, but the success got to their heads, and have rested on their laurels for the past couple of years in their own little bubble, while the handheld device market has passed them by and with the console market threatening to do the same.
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Agreed.
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The next console better have HD, fucking bastards
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I think the cut is going to help them a lot, imho it was way to much money at launch. They should have launched it at 149.99 or 169 and taken their loses to get ahead. People would most likely have purchased it and then bought the 3ds lite after it was released.
At 249 most people are waiting for the lite.-
yup. at $170 i still am not going to pick it up until the next hardware revision comes out. There are too many negatives going for the thing at the moment.
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very low battery life, small screen. Those are the two biggies for me. im sure there are more
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There are external batterie packs you can get and the screen is about the same size as a DS Lite screen with the top screen possibly being a little bigger (wider).
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How many people remember what console platform Nintendo had before the Wii?
A few months ago, I caught myself in that state: "Oh, wait, uhh, that thing that people played Metroid Prime on, right? GameCube, that's it!"
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I've never been one of those "Nintendo is teh doomed!" people before, but their future does not look good.
Nintendo's grip in the portable market is loosening. The 3DS is not flying off the shelves, the library is scarce, and Sony's Vita is just around the corner.
But an even bigger problem is the WiiU. Nintendo dominated the casual market with the Wii but casual players are moving on to their iPhones and their Kinects. I don't see how Nintendo can maintain control of that demographic.
Meanwhile, they think they can recapture the hardcore market with the WiiU? That seems unlikely. Having a console with hardware comparable to the competition and getting 3rd party support didn't do much for the GameCube, how is it going to help the WiiU?
So without casual or hardcore consumers, what does that leave them with?
Basically, just Nintendo fans. They can still crank out a new Zelda, Mario, or Pokemon to reel them back in. But is that going to be enough anymore?
Personally, I feel like Nintendo should devote more resources to making games for their consoles rather than fancy gimmicks. They got motion controls, 3D screens, tablet controls - that's great, but where are the games that make these features useful?
The 3DS has been out for months and the best thing they have for it is a port of a 13 year old game. And probably the most anticipated game is another port of a 13 year old game. Geez Nintendo, you've tried everything else, why not try actually making new games that will sell your consoles? -
Nintendo are conservative as hell, greedy, arrogant but not complete morons. How could a company survive for over 100 years if it was.
All that waits to be seen is if that symbiotic content/unit relationship gets rolling. The actual quality of the system compared to the Vita, iOS or anything really doesn't matter. I tend to think it's an ugly as hell, chintzy, slapped together piece of tech but I thought the same about the DS and looked what happened there.
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The 3DS has done for itself what the Game Cube did almost. While it has something that makes it different, it isn't something that brings new gameplay and related experiences beyond things popping out at you on a screen. And the chance to show the consumer that this is what you need in a game system was wasted at launch. And now, even with Zelda: OoT selling 1 million + copies, there is no Pokémon yet and no Mario games yet.
This is where Nintendo's pathetic attempts to assure us, and developers, that they are dedicated to 3rd party support falls as flat as a washington politician rhetoric. The launch lineup was horrible and there have been no hard hitting 3rd party titles outside of Street Fighter. Looking forward, there is nothing on the horizon from 3rd party games other than MGS 3 to make me want to give the platform the time of day.
Nintendo is great at their first party titles, but at the end of the day they did a really stupid thing and not only moved their 1st party titles to the holiday season (which is already crowded as a VW Beatle with clowns) but did so with no marketing push on its eShop or 3rd party titles. This reeks of arrogance that people will simply buy a platform because of the lineage of the system before it and the developers will go where the money is. And when they do, they will tell their friends, "I don't know why I got this system. There is nothing to play on it!"
While the 3DS isn't dead, it will not have the market presence it's predecessor had and therefore the Vita and smart phones (iOS, Android, etc) will step in and we will have to see how the Vita and its lineup does.
I also look and see how many DS "hard core" games have been ported to the iOS platform and it makes me wonder how much more the Final Fantasy III's and Assassin's Creeds are making on the graphically superior iOS as opposed to the NDS platform?-
Oh, and take the money from his salary and put out the Operation Rainfall games already
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I'm not convinced that's necessarily what we're seeing here (though certainly no one should deny Apple's presence in the market).
The 3DS launched with an incredibly weak lineup and a concept that has to be seen in person to sell itself. It also isn't obvious from the name and marketing exactly how much of a jump in power it really is.
To me, this is an issue of a marketing failure and a lack of good launch software. It's entirely possible that as the lineup becomes stronger and with the new price point Nintendo can reverse this.-
the DS didn't have a great launch line up either iirc, it was a solid year before devs figured out what the 2 screens were good for. But then it wasn't trying to sell $30-40 games to kids who had become accustomed to spending $1-5 for each.
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