Items tagged with Satoru Iwata

Nintendo got a head start over Microsoft and Sony in the next generation console wars by launching its Wii U system well ahead of the Xbox One and PlayStation 4, but being first out of the gate doesn't necessarily guarantee victory. Quite the opposite in this case, as sales of the Wii U have been so bad that Nintendo president Satoru Iwata is slashing his pay in half from February to June. He's not alone in seeing his income reduced. The other 9 members of Nintendo's board will take pay cuts of at least 20 percent as a result of falling profits, the Financial Times reports. Such is the fallout... Read more...
Nintendo has seen better days. There's some doubt among analysts about the Wii U's ability to compete with Sony's upcoming PlayStation 4 and Microsoft's Xbox One consoles, and though the game maker found itself back in black earlier this year, the company missed its forecast and posted an operating loss of around $366 million. Nevertheless, Nintendo employees need not panic, at least not yet. Company president Satoru Iwata made it clear that he has no intention of laying off employees for a short-term gain in numbers. He's very conscious of worker morale and the effect it has on game development.... Read more...