Iwata: Game industry lacked hit titles in first half of 2009, caused “worldwide market contraction”

Nintendo President Satoru Iwata recently admitted that the “Wii has stalled” and that this is due to a lack of “strong software.” However, Iwata also delivered a keynote at a semi-annual financial results briefing in Japan and made a similar claim, but this time it was about the gaming industry in general. In his keynote, Iwata stated that there were no big hits in the first half of 2009, which caused “worldwide market contraction.”

“So far I have been talking about the market based on the number of units. Now I would like to look at the market in terms of monetary sales volume…We attribute the main reason of worldwide market contraction to the lack of hit titles across the industry in the first half of the year.”