Investors call on Nintendo to consider iOS releases
Some investors in gaming stalwart Nintendo are growing increasingly concerned with its strategy for the future and are calling for the company to consider smartphone platforms such as iOS as an alternative source of revenue, according to a Bloomberg report. The report states that the company’s most recent handheld gaming system, the 3DS, has been a flop thus far, prompting price cuts of 40 percent in Japan and 32 percent in the U.S. and a 82 percent slashing of its profit forecast, and that, combined with the company’s refusal to make titles for any products other than its own, has driven the company’s stock to six-year lows. “Smartphones are the new battlefield for the gaming industry,” said Ohki, a fund manager at Tokyo-based Stats Investment Management Co. “Nintendo should try to either buy its way into this platform or develop something totally new.”
As noted in the report, Nintendo shares jumped the most in nearly four months after former Nintendo unit Pokemon Co. said it was developing a game for iOS devices, only to see the gains slip away after Nintendo denied any change in strategy towards outside platforms. “They just don’t get it,” MF Global FXA Securities Ltd. said in a sales note that day, referring to Nintendo. “Sell the stock, because a management once feted for creative out-of-box thinking have just shown how behind the times they are.” While the company’s next-generation home console, the Wii U, also met with mixed reactions upon its unveiling, the company does have nearly $14 billion in cash, equivalents, and short-term investments, giving it more strategic options than some competitors.
- Apps of the Week: Hyperlapse, BioShock, Asphalt 8 1.5 + more
- iLounge Game Spotlight: Pac-Man Friends
- Apple removes Secret app from Brazilian App Store
- Apps of the Week: Star Walk 2, Swing Copters, Vine 2.5 + more
- iLounge Game Spotlight: Pako — Car Chase Simulator
- Apps of the Week: Sago Mini Friends, Champ Man 15, Yelp 8.2 + more
If you have a comment, news tip, advertising inquiry, or coverage request, a question about iPods/iPhones/iPad or accessories, or if you sell or market iPod/iPhone/iPad products or services, read iLounge's Comments + Questions policies before posting, and fully identify yourself if you do. We will delete comments containing advertising, astroturfing, trolling, personal attacks, offensive language, or other objectionable content, then ban and/or publicly identify violators.
- Apple: Celeb photo hack ‘very targeted attack’ on accounts
- Apple investigating “iCloud” celebrity photo hack
- Elgato debuts Eve home sensor product line
- Happy Labor Day from iLounge
- iLounge Weekly coming Monday, last chance for August giveaway
- Apple to add 3X Retina Display support to iPhone 6?
- iPhone 6 logic board leak shows NFC, A8 chips
- Massive report reveals Apple’s PR strategies
- iWatch not shipping until 2015?
- Report: Dutch chipmaker NXP to provide iPhone 6 NFC chips
- Cambridge Audio Go v2 Portable Bluetooth Speaker
- Soundfreaq Double Spot SFQ-09 Wireless Speaker
- iHome iBN6 Waterproof Bluetooth Speaker
- Grace Digital Ecostone Bluetooth Speaker
- Awesome Cables 6ft Braided Awesome Cable
- ZeroChroma Folio-Slide for iPad Air
- Juno Labs Juno Power HUE Pro
- Parrot Minidrone Jumping Sumo
- Parrot Minidrone Rolling Spider
- Stem Innovation Izon View
- What’s New In Apple TV 7.0
- What’s New in iTunes 12
- iLounge Picks: Five Great Summer Party Speakers
- Editorial: Endings And Beginnings
- Live From CE Week 2014: Brand New iPad, iPhone + Mac Accessories!
- What’s New In iOS 8 For iPad, iPhone + iPod touch
- iLounge Multi-Editorial: WWDC 2014’s iOS 8, OS X Yosemite + More
- The Complete Guide to Apple TV Channels
- iHistory: From iPod + iTunes to iPhone, Apple TV + iPad, 2001 to 2010
- iHistory: From iPod + iTunes to iPhone, Apple TV + iPad: 2011 to Today