Nintendo's attempt to rescue its failed 3DS handheld games gadget with a raft of new games content fell short of expectations and left investors pessimistic about the outlook for the long-time industry champion.Nintendo's shares slid 5 percent on Tuesday in a strong broader market as investors said content would not enable the 3DS to fight off growing competition from smartphones and tablets.
The Kyoto-based company has already been forced to slash prices to try to boost slumping demand, leaving only its famed content, never made available on other firms' hardware, to revive sales.
At a subdued event held two days ahead of the Tokyo Game Show, Nintendo President Satoru Iwata unveiled what he said was an unprecedented range of games, including some featuring the company's much-loved Mario character and others aimed at attracting women customers.
Analysts said the line-up lacked a "wow" factor, while investors said it was largely irrelevant.
"I don't think the new games will make any difference," said Mitsuhige Akino, chief fund manager at Ichiyoshi Investment.
"Nintendo succeeded by pulling in people who weren't gamers and their needs now are no longer being filled by Nintendo, they are happy playing games on their mobile phones," he said.
With sales of its DS and Wii fading, Nintendo was relying on the new 3D model to revive profits and fend off renewed competition from motion-gaming peripherals of Sony Corp and Microsoft. Many casual gamers are also flocking to devices such as Apple's blockbuster iPhone and iPad.
As of Monday's close, Nintendo's shares had sunk 46 percent since the start of the year, hit by the slump in sales of its glasses-free 3D-capable games device and doubts that it can replicate the success of its Wii home console.
The Kyoto-based company has already been forced to slash prices to try to boost slumping demand, leaving only its famed content, never made available on other firms' hardware, to revive sales.
At a subdued event held two days ahead of the Tokyo Game Show, Nintendo President Satoru Iwata unveiled what he said was an unprecedented range of games, including some featuring the company's much-loved Mario character and others aimed at attracting women customers.
Analysts said the line-up lacked a "wow" factor, while investors said it was largely irrelevant.
"I don't think the new games will make any difference," said Mitsuhige Akino, chief fund manager at Ichiyoshi Investment.
"Nintendo succeeded by pulling in people who weren't gamers and their needs now are no longer being filled by Nintendo, they are happy playing games on their mobile phones," he said.
With sales of its DS and Wii fading, Nintendo was relying on the new 3D model to revive profits and fend off renewed competition from motion-gaming peripherals of Sony Corp and Microsoft. Many casual gamers are also flocking to devices such as Apple's blockbuster iPhone and iPad.
As of Monday's close, Nintendo's shares had sunk 46 percent since the start of the year, hit by the slump in sales of its glasses-free 3D-capable games device and doubts that it can replicate the success of its Wii home console.
