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Nintendo Wii U Not Expected Until June 2012 or Later

posted on 2011-10-27 23:53 EDT

Nintendo President Satoru Iwata confirmed on Thursday that his company does not expect to release the Wii U game console until next June or later. Iwata made the confirmation during his company's announcement of lowered projections for the current fiscal year, which ends next March. Nintendo now expects to lose 20 billion yen (about US$260 million) this year — the first annual loss for the company since it began publicly reporting its financial results in 1981.

Source: Bloomberg


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