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Nintendo Chief Executive Satoru Iwata said on Thursday he plans to introduce a new kind of games console and software for emerging markets as early as next year, rather than launch existing hardware such as its Wii U or 3DS.

Iwata told Reuters in an interview following an analyst briefing that Nintendo would offer new hardware for countries such as China, oriented towards consumers with lower incomes and less gaming experience than those in developed countries.

Nintendo released its full-year earnings on Wednesday, booking its third year in the red after disappointing sales of its Wii U home games console.

Nintendo had previously warned it was on track for an annual loss, reversing an earlier 55 billion yen net profit forecast, as sales for the Wii U came in way below expectations over the crucial holiday sales period.

It said it moved 2.72 million Wii U consoles globally over the 12 months through March, less than a third of its earlier prediction for 9.0 million and dealing a blow to hopes it would match the blockbuster success of the original Wii.

Sales were “not as high as expected”, the firm said, adding that price cuts and slower sales of the console’s high-margin software weighed on results.

The maker of the Donkey Kong and Pokemon franchises has fallen on hard times in recent years, piling up losses as rivals Sony and Microsoft outpaced it in console sales, while all three companies fight off a trend toward cheap — or sometimes free — downloadable games for smartphones and other mobile devices.