Wii, Nintendo go highbrow with The Economist

Satoru Iwata, Nintendo head honcho, has long said the gaming industry needs a shot in the arm. Yesterday, as their stock tanked and profits sagged by more than 90%, Sony’s CTO Nobuyuki Oned said much the same thing. “We would have been on track with the midterm plan, or more than that. But the game segment is weak and is the major challenge for us now,” he said, in the process neglecting the fact that Nintendo was up more than 70% and MS was making gains as well with the 360. Sony Logic, strikes again.

But anyway, today The Economist — a who’s who of stuffy corporate types — weighs in, cautiously, on how the Wii fits into the new generaiton of gaming set to break this year and next.

“The industry had been preparing for a showdown between Sony, the current champion, and Microsoft, its deep-pocketed challenger. Nintendo was expected to be an also-ran, peddling its familiar game brands, such as Mario and Zelda, to children and die-hard fans. But its unusual new strategy means that Nintendo is now the company to watch. As it sets out to broaden the gaming population, Nintendo is not fighting against Sony and Microsoft, says Mr. Iwata. Its real enemy is the indifference that many people still feel towards gaming. Of course, says Mr Iwata, he would be happy if Nintendo became the leading console-maker again as a result of its new approach. But a victory over Sony and Microsoft in a shrinking market, he says, would not be a victory at all.”

You see? If the Wii fails then gaming as a whole tanks. I’m kidding, of course.