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Nintendo Co. Ltd. is planning to introduce a new kind of games console and software for emerging markets as early a...
Nintendo Co. Ltd. is planning to introduce a new kind of games console and software for emerging markets as early as next year, to profit on higher entertainment budgets amongst the growing middle class. This was announced on Thursday by Nintendo's chief executive, Satoru Iwata.
The main goal of Nintendo is to develop hardware and games directed towards customers with lower incomes and less gaming experience than those in developed countries. The plan is to look for new business opportunities as Nintendo concentrates on stopping losses on its latest home game console, the Wii U. Satoru Iwata said that there are no intentions to launch already-existing hardware like Wii U or 3DS in developing markets, inclusive of China.
"It would be difficult to enter those markets if we didn't create something new...For the mass market you need to provide something that most of the middle class can afford," Satoru said in an interview, following an analyst briefing on Thursday.
Last month, Microsoft announced that it will start selling Xbox One in China after the government allowed the sale of foreign consoles there. “We think the Chinese market has a lot of potential, but I don't think the lifting of the ban has solved all of the difficulties in entering it. We need to study it more," Satoru Iwata said, adding that Nintendo would adapt its pricing to fit consumers in emerging nations. "For us, Microsoft's approach wouldn't work."
Nintendo plans to release high-tech figurines for Christmas of some of its most famous characters. With this move, the company intends to stimulate software sales. On Wednesday, Nintendo released its full-year earnings report, showing its third year in the red after discouraging sales figures for its Wii U home games console. This year the company’s working hard to promote new game titles and stimulate higher sales of hardware.