This is not good news at all (but I don't think it's very surprising either). I hate to say it, but I kind of expect Nintendo to be a mobile gaming company in the future with very little in the way of home console development.
Nintendo Confirms Wii U Has Flopped, Slashes Sales Forecast By ~70% | TechCrunch
Nintendo Confirms Wii U Has Flopped, Slashes Sales Forecast By ~70% | TechCrunch