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VideoGameAccountant said:

 All Nintendo did was cut off the Wii too early. It was cheap enough that it was at a prime price point and would have still kept selling. In FY 2012 the system still sold 9 million units worldwide. This was after the Wii U was announce, so had Nintendo held off and even released some smaller, cheaper games on the system, they could have seen even better numbers. The rush to market really hurt them because they were one-upped by Sony and Microsoft a year later and didn't have enough software to launch with. If the Wii HD had a game like Nintendo Land, New Super Mario Bros, Wario Ware and Pikmin at launch, it would have done a lot better and attracted more 3rd party support. 

Yeah I still feel that pulling the plug on the Wii in 2011 was one of Nintendo's more egregious blunders. They had one of the best selling consoles in history and they cut its legs off after just 4 years.

Slownenberg said:

And they both came on the heels of Nintendo's most successful home and portable consoles. It seems after massive success of Wii and DS Nintendo made bad decisions on all fronts. Maybe they got lazy due to success?

This tends to happen with console manufacturers in general; Sony got arrogant and complacent after the PS2, MS after the 360, Nintendo after Wii/DS.