Nintendo Co. Ltd. said that they plan on launching a Wii console successor in 2012 as they recently reported a slump in profits. Nintendo is expecting that profits will be remaining flat in the current financial year. Nintendo plans on demonstrating the Wii replacement at the E3 game show on June 7 in Los Angeles, California.
Nintendo is facing major competition from smartphone and tablet companies that include Apple and HTC. Today Nintendo revealed a quarterly profit of 12 billion yen. This is down from 59.9 billion yen one year earlier. Nintendo sold 86 million units of the Wii since they launched in 2006. For the year that just ended, Wii console sales have fallen to 15.1 million units from 20.1 million one year earlier.
“We have decided that it is best to let people experience it for themselves at E3,” stated Nintendo CEO Satoru Iwata. “It will offer a new way of playing games within the home.”