Nintendo execs take salary cuts amid slow Wii U sales

Nintendo president Satoru Iwata has already said he won’t step down amid the company’s recent poor market performance, but that doesn’t mean he and other Nintendo executives aren’t feeling some of the company’s pain. Nintendo has announced (as reported by the AP) that Iwata will take a 50 percent pay cut for five months starting in February. Two high-level directors, including storied Mario creator Shigeru Miyamoto, will take 30 percent pay cuts, while seven members of Nintendo’s board will see their pay reduced 20 percent.

The move comes as Nintendo confirms what the company warned of with its severely reduced sales projections earlier this month. In 2013, the Wii U sold just 2.8 million units worldwide. That’s down from 3.06 million units it sold to early adopters in fewer than three months when it launched in 2012, showing a worrying lack of momentum for a system that is facing new competition from the likes of the PS4 and Xbox One.

On the portable side, the 3DS is doing considerably better than its home console counterpart. Nintendo pushed out 12.7 million units of the system during the last nine months of 2013, including over 5 million in Japan alone. That number sounds less impressive, though, when you compare it to the 24.5 million the Nintendo DS sold during a similar nine-month stretch in its third full year on the market.

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via Ars Technica http://ift.tt/1mXSluL

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