Nintendo's share value over the past five years.

　　Nintendo can't catch a break. After announcing dismal Wii U sales and diminished financial projections today, shares of the Tokyo game giant have plunged more than 15 percent. The company is currently trading down more than 17 percent to $14.90.

　　It may not only be the downwardly revised sales projections for the Wii U and 3DS that has investors spooked. President Satoru Iwata said today said the company is considering orienting itself around a "new business structure" that could involve a greater emphasis on smartphones.

　　Nintendo today slashed its Wii U sales forecast for the period ending March 31, 2014 to 2.8 million consoles, down from 9 million, representing a decrease of almost 70 percent. 3DS sales projections for the same period fell from 18 million to 13.5 million.

　　Finally, Nintendo said it now expects to post a loss of ¥25 billion ($240 million) for the year, compared to a previous forecast for a profit of ¥55 billion ($527 million). If Nintendo does end up in the red, it will mark the company's third straight annual loss.

　　Despite the poor performance, Iwata will not resign as Nintendo's top executive.

　　You need a javascript enabled browser to watch videos.

　　Click To Unmute

　　Breaking News: The Wii U takes a hit, but is Nintendo really doomed?

　　How Alan Wake II Made Me Face My Fear of Horror Games

　　GameSpot's Top 10 Games of 2023Thompson: The Pop Culture Icon’s Strange Legacy - LoadoutFirearms Expert’s FAVORITE Weapons Of 2023State Of Gaming Handhelds In 2023How Lies of P Cracked the Souls GenreLike a Dragon: Infinite Wealth - Official Ichiban Kasuga Character Spotlight TrailerLike a Dragon: Infinite Wealth - Official Saeko Mukoda Character Spotlight TrailerLike a Dragon: Infinite Wealth - Official Chitose Fujinomiya Character Spotlight TrailerLike a Dragon: Infinite Wealth - Official Eric Tomizawa Character Spotlight TrailerLike a Dragon: Infinite Wealth - Official Kazuma Kiryu Character Spotlight TrailerLike a Dragon: Infinite Wealth - Official Yu Nanba Character Spotlight Trailer

　　Share

　　LinkEmbed

　　Size:640 × 360480 × 270

　　Start at: End at: Autoplay Loop

　　Want us to remember this setting for all your devices?

　　Sign up or Sign in now!

　　Please use a html5 video capable browser to watch videos.

　　This video has an invalid file format.

　　00:00:00

　　HTML5

　　Auto HD High Low

　　Report a problem

　　Sorry, but you can't access this content!

Please enter your date of birth to view this video

　　By clicking 'enter', you agree to GameSpot's

　　Terms of Use and Privacy Policy

　　enter