1) What would you do to try and turn things around the near term (1-6 months?)
Thats hard to say, because its so little time. There can not be done much so soon.
2) Which device would you discontinue first (3DS/Wii U) and what would your timetable be for the transition of both devices?
Both at the same time, but of course after a successor already has been released.
Maybe the next console should be handheld only and the next home console should only arrive at about the same time (maximum 6 months before) like PS5 and XBOneTwo.
As I think Sony and MS will NOT launch their new consoles before 2019/2020 it would make no sense to launch WiiU2 in 2016 or 2017. 3rds will not jump to the Nintendo console, when they have an 80Mio+ hardwarebase - the HDTwins V2.
3) What would be the your strategy for bolstering 3rd party support on the next home console?
Simply BUY a lot of 3rd parties! Do NOT buy games, buy the studios.
They need exclusives, exclusives, exclusives and more exclusives. People NEVER will preferably buy Versions for Nintendo-consoles.
