Nintendo stock plunged in Tokyo despite the much ballyhooed unveiling of the Wii U, the successor to its hit Wii video game console. The demonstration of the prototype at the Electronic Entertainment Expo, the gaming industry's annual convention, in Los Angeles on Tuesday, appeared to leave investors disappointed and skeptical. Nintendo Co. shares closed down 5 percent in Tokyo on Wednesday.
Shuji Hosoi, analyst at Daiwa Securities Co., said it was unclear how successfully the machine would compete against smartphones and tablet PCs, when device-based gaming was already having to vie against social networks. The Japanese gaming giant behind Pokemon and Super Mario games said the Wii U will broadcast high-definition video and feature a touchscreen controller that can detect motion.
