Nintendo Pres: To Launch New Wii U Home Console At Year-End Holiday Season In Japan, US, Europe

Nintendo Co.  said Friday that it plans to release its new Wii U home console for the holiday shopping season at the end of this year in Japan, the U.S., Europe and Australia.

At a briefing for analysts in Tokyo, President Satoru Iwata said that the company will show the finalized model of the Wii U at the annual Electronic Entertainment Expo in June in Los Angeles.

The new console, the successor to the massively successful Wii, will be key to Nintendo’s efforts to start a new cycle of growth at a time when the strong yen is hurting its revenue and profits.

The Japanese videogame giant said Thursday that it swung to a net loss of Y48.35 billion for the nine months ended December and that it now expects a net loss of Y65 billion for the fiscal year ending March, more than three times a Y20 billion loss it previously forecast in October.

via Nintendo Press