Rumor: Satoru Iwata on hot seat
Recent rumors suggest that Nintendo president Satoru Iwata may be on the hot seat.
Due to slow Nintendo 3DS sales earlier in the year, Iwata opted to cut his annual pay and publicly blame himself for the shortcomings of the system. Since then, 3DS has seen a significant price drop and rapid sales increase -- the handheld outsold the PSP in Japan by five to one this past week, and it outsold every other system in the region combined.
French website 01net -- the site that predicted several factors for PS Vita and Wii U -- were allegedly told that Iwata is now on the hot seat and is in danger of losing his position with Nintendo if the 3DS doesn't get turned around.
"If we are to believe our source, the chairman of the board, Satoru Iwata, is now in very delicate position, if not on an ejection seat. Iwata is generally appreciated by the staff of the company, many employees worried about his fate," 01net said. "Also according to our source, the fact that he publicly assumed responsibility for a difficult start to the 3DS and voluntarily cut his salary in half may not be enough to save his place in the medium term."
Nintendo is holding a 3DS press conference in September, in which they will make a "major announcement" regarding the system's future.