The Wii, once the cutting edge of video game technology, is headed the way of the Atari 2600 and the Sega Genesis.
Nintendo Co. Ltd. said Monday that it plans to replace the Wii with a new system in 2012. The video game maker said it will "show a playable model of the new system" at the E3 Expo in Los Angeles from June 7 to 9.
With the Nintendo 3DS, the Japanese video game company is betting that it can once again nudge mass entertainment in a new direction, just as it did nearly five years ago when it launched the Wii with its innovative motion-based controller.
This time, though, the competition from other devices is tougher.
Nintendo's Wii has been one of the most profitable games consoles ever sold, and after its launch in 2006, Nintendo took months to satisfy pent-up demand. This enabled the company to charge a premium price for its hardware and make large profits while rivals such as Sony and Microsoft were losing money on every machine they sold.
ChangeWave’s latest consumer survey shows a sudden huge pullback in electronics purchasing by U.S. consumers – the largest one since they began measuring spending trends back in 2002.
Only 19% of survey respondents say they'll spend more on electronics over the next 90 days compared to 33% who will spend less – an unprecedented sign of weakness in this space.