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Edition: U.S. Article Comments (0) Slideshow Earnings Johnson Controls says Japan crisis will hit Q3 Toyota may fall to No.3 due to Japan quake Costs take a swipe at Kimberly-Clark's profit RadioShack profit hurt by T-Mobile Nintendo to launch new Wii as profit slips Avid shares fall after surprise Q1 loss Uncertainty reigns as Japan Inc posts results Follow Reuters Facebook Twitter RSS YouTube Read Silver turns lower after rally, gold retreats | 11:05am EDT "Water for Elephants" a lost opportunity 8:19am EDT Five women brutally murdered in Mexico beach resort 23 Apr 2011 Leaked Guantanamo files reveal detainee details: report 8:40am EDT Special Report: Is Buffett's teflon finally wearing off? 9:28am EDT Discussed 131 Texas governor calls for prayers for rain 129 Obama sees no magic bullet to push down gas prices 64 U.S. sends drones to Libya as battle rages for Misrata Watched NATO jets bomb Gaddafi compound 6:27am EDT Gunfire and tanks in Syria Sun, Apr 24 2011 Chernobyl Legacy 6:24am EDT Nintendo to launch new Wii in 2012 as profit slips Tweet Share this By Isabel Reynolds OSAKA, Japan (Reuters) - Nintendo Co Ltd said it would launch a successor to its aging Wii game console in 2012 as it struggles to win back users from rivals Microsoft and Sony and seeks to reverse a slump in profits. Nintendo... Email Print Related News Nokia sees weaker times after strong first quarter Thu, Apr 21 2011 Morgan Stanley, MUFG JV to book $1.7 billion loss Thu, Apr 21 2011 Apple crushes forecasts again, iPad backlogged Wed, Apr 20 2011 Dow ends near 3-year high and Apple jumps after earnings Wed, Apr 20 2011 Japan eyes sales tax rise to pay for post-quake rebuild Tue, Apr 19 2011 Analysis & Opinion What goes down, must come up: GE’s latest tax bill Tech wrap: Apple raises the earnings bar Related Topics Technology » Media » Stocks 1 / 2 An employee (C) walks at a floor of a Yamada Denki electronics retail store selling Nintendo products, in Tokyo January 28, 2010. Credit: Reuters/Toru Hanai By Isabel Reynolds OSAKA, Japan | Mon Apr 25, 2011 10:17am EDT OSAKA, Japan (Reuters) - Nintendo Co Ltd said it would launch a successor to its aging Wii game console in 2012 as it struggles to win back users from rivals Microsoft and Sony and seeks to reverse a slump in profits. Nintendo said Monday that it expects profits to remain almost flat in the current financial year, despite the launch of its much-touted 3D-capable handheld games device, whose sales in Japan have been overshadowed by the devastating March 11 earthquake. The maker of the DS handheld game player, which is also facing competition from smartphone and tablet makers including Apple Inc, said Monday it will demonstrate the Wii's replacement in Los Angeles on June 7 at the E3 game show. Nintendo is looking to repeat past successes in the gaming market. The Wii took the industry by storm five years ago by offering motion-based gaming that appealed to a broad audience rather than just "core" video game fans. This time around, however, Nintendo will find it harder to sidestep its competitors and must also contend with a burgeoning smartphone market that didn't exist in 2006, said Mitsushige Akino, Chief Fund Manager at Ichiyoshi Investment Management. "Core users and game lovers will certainly buy it, but I think it will be hard to capture buyers outside of that group," he said. Monday, the company revealed quarterly profit of just 12 billion yen, down from 59.9 billion yen a year earlier, as it slashed prices and the strong yen hurt the value of its sales abroad. Having sold 86 million units of the Wii since its launch in 2006, sales last business year slipped by a quarter to 15 million. "We believe that the share price will come under pressure as the market digests the weak Q4 results and company projection for the year to March 2012," analyst Jay Defibaugh of MF Global said in a research note. Nintendo sees first half profit for the current financial year down more than 63 percent on the previous year, with a bounce back in the second half. Nintendo declined to provide further details on the Wii successor. "We have decided that it is best to let people experience it for themselves at E3," Nintendo CEO Satoru Iwata, told a news conference. "It will offer a new way of playing games within the home," said Iwata, a former game designer. In another transition to new-generation hardware, Nintendo this year launched a glasses-free 3D-capable handheld games device, the 3DS, to fend off growing competition from other games companies, as well as makers of smartphones and tablets. It must also contend with Microsoft and Sony which have brought new products to the market since the Wii's debut. In March, Microsoft said it had sold more than 10 million Kinect motion-sensing game system units worldwide in just over four months, making it the fastest-selling consumer device on record. The infrared camera add-on for the Xbox game console tracks body gestures for video games. Sony's rival motion sensing device is dubbed Move. DECLINING SALES In the business year just ended, Wii console sales fell to 15.1 million units from 20.1 million a year earlier. It expects sales to fall by a further 2 million units this business year. Sales of its non-3D handheld DS shrank by almost 10 million units to 17.5 million, and the company expects that to slide to 11 million this year. Nintendo's operating profit fell 52 percent to 171.1 billion yen ($2.09 billion) in the year ended in March from 356.8 billion yen the previous year, below a Thomson Reuters SmartEstimate of 200.8 billion yen. SmartEstimates put more weight on recent forecasts by highly rated analysts. Nintendo expects operating profit of 175 billion yen for the year to March 2012, compared with a consensus of 215.8 billion yen, based on eight analysts polled by Thomson Reuters I/B/E/S after the March 11 disaster. Nintendo shares closed up 0.9 percent ahead of the earnings report in a flat broader market. ($1 = 81.845 Japanese Yen) (Writing by Anshuman Daga and Tim Kelly; Editing by Lincoln Feast and Nathan Layne) Technology Media Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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