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Iwata accepts blame for Nintendo 3DS, takes 50% pay cut
The Nintendo president accepts responsibility for the 3DS not doing as well as Nintendo would have hoped.
Speaking to shareholders today in Tokyo, Nintendo president Satoru Iwata accepted responsibility for the 3DS 'failure', and revealed that he'd be taking a 50 per cent cut in pay.
"For cuts in fixed salaries, I'm taking a fifty percent cut, other representative directors are taking a 30 percent cut, and other execs are taking a 20 percent cut," Iwata explained.
This follows the news that Nintendo has reduced its expected profits for the fiscal year by a staggering 81.8 per cent, and that the 3DS will be getting price cuts across all regions. An exact price has yet to be settled on for the UK, but the price will drop from $249.99 to $169.99 in the US. This will come into effect from August 12.
According to Kotaku, Iwata currently brings home an annual salary equivalent to $2 million. In contrast, Shigeru Miyamoto earns around $1.2 million.
