In a meeting with analysts on Thursday, newly appointed Nintendo president Satoru Iwata revealed the company"s new direction. Nintendo plans to expand its share of the video game market by focusing on making better games rather than on building increasingly powerful consoles, its new president said Thursday.
"We can"t be optimistic about the game market," he said, referring to consoles at a meeting with analysts at a Tokyo hotel. "No matter what great product you come up with, people get bored. I feel like a chef cooking for a king who"s full." Iwata also revealed Nintendo"s intent to sell 50 million GameCube consoles by March 2005. Nintendo has already shipped 4 million GameCubes since the system"s launch in September of 2001.
"We have a sense of crisis, that price cuts in software could destroy the game industry," he said. "The effort to produce machines with better technology has reached its limit," Iwata said. "If things continue, they may lead to the decline of the entire game industry."