Nearly 30 years ago, Nintendo essentially gave the video game industry a new life, and a second chance. In 1985, when the original Nintendo Entertainment System debuted at the North American International Toy Fair, no one even wanted to think about video games after the great crash that saw revenues fall from $3.2 billion in 1983 to just $100 million in 1985.
Fast forward to 2013. The industry has "leveled up," so to speak, to $93 billion in 2013 — and according to research from Gartner, that figure could reach $111 billion by 2015. The question now is whether Nintendo will still be a part of it.
The company, which was founded in 1889 as a playing card maker, has had to reinvent itself over the years. It may need to do so again as it faces declining sales of its Wii U video game console.
Last month, Nintendo president Satoru Iwata announced that the company had revised its full-year consolidated financial forecast for the fiscal year ending March 31, 2014. Its new outlook was not good: Nintendo cut its forecast for its Wii U's annual sales by more than two thirds, from 9 million to 2.8 million, and also halved the projection for game sales to just 19 million units. The Wii U, which came out in November 2012, is far from the hit that was the original Wii, which
came out in 2006 and has sold more than 100 million units worldwide.
Fast forward to 2013. The industry has "leveled up," so to speak, to $93 billion in 2013 — and according to research from Gartner, that figure could reach $111 billion by 2015. The question now is whether Nintendo will still be a part of it.
The company, which was founded in 1889 as a playing card maker, has had to reinvent itself over the years. It may need to do so again as it faces declining sales of its Wii U video game console.
Last month, Nintendo president Satoru Iwata announced that the company had revised its full-year consolidated financial forecast for the fiscal year ending March 31, 2014. Its new outlook was not good: Nintendo cut its forecast for its Wii U's annual sales by more than two thirds, from 9 million to 2.8 million, and also halved the projection for game sales to just 19 million units. The Wii U, which came out in November 2012, is far from the hit that was the original Wii, which
came out in 2006 and has sold more than 100 million units worldwide.
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