This is the press release from Reuters confirming the dreadful financial performance of Nintendo.

“TOKYO (Reuters) – Nintendo Co said it expects an operating loss of 35 billion yen ($336 million) for the year to end-March, reversing its previous forecast of a 100 billion yen profit, citing much weaker-than-expected sales of its Wii U and 3DS game machines.

Nintendo on Friday also warned of a net loss of 25 billion yen for the year ending on March 31, a substantial reversal from its prior projection of a 55 billion yen profit.

Nintendo President Satoshi Iwata will hold a news conference at 4:30 p.m. (0730 GMT) in Osaka regarding the estimated losses.

The company slashed its global Wii U sales forecast for 2013/14 to 2.8 million units from 9 million, and its 3DS sales forecast to 13.5 mln units from 18 mln units.”

And now finally Nintendo boss Saturo Iwata has admitted the company is considering “a new business structure,” which may involve branching out into the mobile arena. Hopefully it won’t be long before we see all the famous Nintendo game classics on the iPhone and Android phones.