Nintendo president takes 50-percent pay cut in wake of quarterly loss

satoru-iwata-nintendo-zelda-in-backgroundIn the wake of yesterday’s news that Nintendo suffered its first-ever quarterly loss and plans to slash prices on the Nintendo 3DS, the president of the Japanese company put the blame on his shoulders and told shareholders he plans to halve his salary.

Nintendo president Satoru Iwata addressed shareholders today, and explained the decision to cut prices on the handheld 3-D gaming device, which has experienced lackluster sales due to a variety of factors — not the least of which is the low number of games available for the system and frequent delays (and cancellations) for in-development games.

Iwata won’t be the only person on the Nintendo payroll feeling the financial effects of the underperforming 3DS, as he indicated that a number of other high-level execs will take 30- and 20-percent pay cuts, too. While he admitted that the 3DS itself cannot be profitable at the reduced price point (the system was reduced from $250 to $170 in the U.S.), Iwata believes the cost of producing the units will drop as demand rises.

As we reported yesterday, Nintendo’s financial reports recorded an operating loss of 37.7 billion yen for the April-June quarter, giving the company its first quarterly loss since 2003, when it began reporting such data.

In today’s statement, Itawa repeatedly referenced the importance of building up the 3DS library of games as the key to turning things around, and indicated that the company has no plans to release Nintendo 3DS games on other platforms.

Features

From NES to PlayStation, retro gaming is booming. But will it last?

Everyone craves the good old days, and companies like Nintendo and Sony are cashing in with their mini versions of beloved retro consoles. But is this fad built to last or will our fixation with pixelated graphics come and go like mom…
Mobile

T-Mobile-Sprint merger could close as early as first quarter of 2019, exec says

T-Mobile and Sprint are finally merging. After a few failed attempts, the two companies announced their merger at the start of 2018. Once it's complete, the new T-Mobile could be better positioned to take on the likes of Verizon and AT&T.
Deals

The best Nintendo Switch deals and bundles for November 2018

Looking to score Nintendo's latest hybrid console? We've smoked out the best Nintendo Switch deals right here, including discounts on stand-alone consoles as well as bundles that feature games like Fortnite and Super Smash Bros. Ultimate.
Gaming

Every rumor about the PS5, including a new game from Luminous Productions

PlayStation 5 rumors have been circulating for over a year now but there's still plenty we don't know. Here's everything you need to know about the PS5, including rumors about its release, specs, and games.
Gaming

Twitch viewers aren’t tuning in to watch ‘Fallout 76’ gameplay

Fallout 76 has experienced a sharp decline in viewership not just when compared to the numbers for Fallout 4, but also compared to the game's B.E.T.A. period last month. Sales also appear to be lower than they were with Fallout 4.
Deals

The Best Black Friday Deals from Best Buy in 2018

We've been hard at work assembling all the best Black Friday deals Best Buy offers in 2018 and putting them in one place to save you time and money this holiday season. From laptops to TVs, game consoles to smart speakers and much more…
Product Review

‘Let’s Go Pikachu’ and ‘Let’s Go Eevee’ feel like true ‘Pokémon Go’ RPGs

Pokémon: Let’s Go’s simplified reimagining of Pokémon Yellow has a great balance of old and new mechanics. It has a streamlined approach that makes it easy to get into, but depth remains for longtime fans.
Computing

Detangle your desk with a mighty wireless mouse. Here are our six favorites

If you're looking for the best wireless mouse on the market, we've got the list for you!. These six models have something for everyone, whether you're a hardcore gamer or simply looking to ward off carpal tunnel.
Deals

The best Walmart Black Friday deals in 2018

Walmart has historically been the undisputed king of Black Friday deals. The mega-store is known for offering deals on products in almost every category, from smart TVs to children’s toys. We're combing through every deal as it is…
Computing

Want to game on your Chromebook? Here's where to start

Chromebooks aren't great for gaming, but there are a few titles that most machines can run. There's a surprisingly diverse crowd that includes role-playing games, action side-scrollers, and puzzlers.
Gaming

Dominate in multiplayer with a few of our favorite 'Battlefield 5' weapons

Here are some of the best weapons you can use to get the upper hand in Battlefield 5's multiplayer, including assault rifles, sniper rifles, pistols, and anti-tank tools.
Gaming

How to become a master assassin and perfect the art of execution in 'Hitman 2'

'Hitman 2' introduces new and improved story missions with a scale that can feel overwhelming if you're not prepared. Learn everything you need to know to obtain a high score while remaining unnoticed.
Digital Trends Live

Digital Trends Live: Nissan turmoil, product designer Jae Yoo of Nerf, and more

For today's episode of Digital Trends Live, we turn our attention to the L.A. Auto Show and Lamborghini's race-ready version of the Urus. We also speak with Jae Yoo of Nerf and MLS defender Zarek Valentin about their origins, modern tech…
Gaming

The best Gamestop Black Friday deals in 2018

Gamestop is hosting one heck of a Black Friday and Cyber Monday promotion period, highlighted by excellent deals on games, gaming consoles, and gaming accessories. We combed through everything and have all the best Gamestop Black Friday…