New GameCube coming. (Vid Bits).(disappointing holiday sales leads to Nintendo decisions to find GameCube replacement)(Brief Article)

Video Business, January, 2003 by Chronis, George T.

In a response to depressing holiday sales figures, Nintendo president Satoru Iwata confirmed that the gamemaker will field a GameCube replacement as early as 2005. The disclosure is seen as a way of heading off competitors and naysayers suggesting Nintendo will follow Sega in exiting the console hardware business.

Earlier this month, Iwata said Nintendo wouldn't make its 8 million worldwide user goal by the end of 2002, a goal that was cut down from 10 million in October. The next day, he indicated that the GameCube had not met sales expectations in Japan and had failed to significantly increase market share in the U.S. and Europe.