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Nintendo's president Thursday ruled out price cuts for its new Wii U home console as a way to boost sales, vowing to become profitable again in its core businesses as smartphones and tablets increasingly threaten specialized game machines.
Nintendo President Satoru Iwata promised Thursday the struggling Japanese video-game maker will get back into operating profitability next fiscal year at more than 100 billion yen ($1 billion), while ruling out price cuts for the new Wii U home console to boost sales.

Kelly Osbourne is rushing to Kate Middleton's defense after a French magazine published topless pictures of the Duchess of Cambridge on vacation.
Japanese game maker Nintendo Co. has upgraded its 3DS handheld to sport a screen nearly twice as big as the previous model amid hot competition against smartphones and tablets that are wooing people away from dedicated gaming machines.
Nintendo Co. sank into a 43.2 billion yen ($533 million) loss for the fiscal year just ended as weak sales of the Wii home console and the strong yen eroded earnings.
Nintendo's chief is determined to get right the launch of its next game machine, Wii U, set for this year's holiday shopping season, and acknowledged Friday some mistakes with selling its 3DS handheld.
Nintendo's chief is determined to get right the launch of its next game machine, Wii U, set for this year's holiday shopping season, and acknowledged Friday some mistakes with selling its 3DS handheld.
Nintendo's add-on button device for its 3DS video game machine is facing criticism as a possible design flaw and a detraction for the already struggling portable.
Nintendo is readying an array of video games for the holidays in an aggressive attempt at catch-up for lost time from the sales delay of the 3DS portable machine last year.

Nintendo has introduced the world to the Wii's touchy new big brother: the Wii U.
Nintendo has introduced the world to the Wii's touchy new big brother: the Wii U.
Nintendo has introduced the world to the Wii's touchy new big brother: the Wii U.
With retail video game sales smacked down by the rough economy and ever-growing competition in the crowded social and mobile game marketplace, it seemed like attendees at this week's annual Game Developers Conference were more frustrated than birds catapulted at pigs.

Nintendo's President Satoru Iwata is unfazed by rival Sony's plans for an upgraded successor to the PlayStation Portable, confident that his company's 3-D handheld game machine going on sale next month has a competitive edge.
Nintendo President Satoru Iwata said Friday rival Sony was taking a different tack from his company and so he remains upbeat about his 3-D portable game machine going on sale next month.
Nintendo Co.'s president, Satoru Iwata, acknowledged recently that the Wii U and the handheld Nintendo 3Ds didn't do well over the holidays, but he ruled out a price cut for the new console.
Iwata said Nintendo is preparing more game software, including those developed in-house, for the end of this year.