3DS: Iwata chops off his own salary, takes responsibility for price cut

Posted By | On 29th, Jul. 2011 Under Industry News, News

During a meeting with shareholders in Tokyo, Satoru Iwata, Worldwide Nintendo President, took responsibility for the recent 3DS $80 price cut and also announced that he will be bringing down his salary to half of what it is now as part of a cut in fixed salaries.

“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,” said Iwata. He said that the price cut will help the 3DS’ end of year figures take a massive spike.

Iwata, who earns around $2 million a year, will now earn around $1 million. Even Miyamoto’s salary, which is currently around $1.2 million, will be taking a hit. Bonuses will also be reduced, reportedly. “We decided that if we take brave measures now, there’s high likelihood that a many players can enjoy the Nintendo 3DS in the future,” the firm commented on the price cut.

It was announced yesterday that Nintendo is now selling each 3DS unit at a loss. They also said they’re afraid that with this price cut, they might loose trust of fans who bought the 3DS earlier. That, however, is not their intention. They will be offering ten NES and GBA games each to all those who did buy it earlier. What’s more, they’re even calling you people Ambassadors for the 3DS.

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