Nintendo to stick with hardware platform strategy: CEO

Reuters News
Posted: Jan 29, 2014 8:54 PM

TOKYO (Reuters) - Nintendo Co Ltd President Satoru Iwata said on Thursday the company was sticking to its strategy centered on a combined hardware and software platform, which has come under criticism after the flagship Wii U console posted disappointing sales.

Iwata said he did not take a pessimistic view of the future of video game consoles, a day after Nintendo posted dull quarterly earnings and announced a share buyback to soothe market worries about its future.

Nintendo's shares have come under heavy pressure since it announced earlier this month that it would post its third annual operating loss in a row.

(Reporting by Reiji Murai and Sophie Knight; Editing by Edmund Klamann and Stephen Coates)