We imagine Nintendo HQ is pretty tense right now, as Iwata, Reggie and co try to rustle up a plan to overcome the company's disastrous financials.
What's the blame? The Wii U. Nintendo President Satoru Iwata acknowledged that the company had failed to keep up with the changing face of the gaming industry, stating that Nintendo was rethinking its strategy going forward.
But before you start refreshing the app store in hope of seeing Mario and his pals, Iwata has clarified that putting the Italian plumber on phones is not the answer.
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"The spread of smart devices does not spell the end of game consoles. It's not that simple," he said in a press conference, according to The Wall Street Journal.
"It doesn't mean that we should put Mario on smartphones."
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While Link's next adventure might not take place on the iPhone, Nintendo has admitted that it is looking into how smart devices can help keep it afloat - it just won't be as simple as putting its future games on them.
IHS games analyst Piers Harding-Rolls told TechRadar: "In the short term there remains more the company could be doing in terms of extending its content and services to other connected devices - something it has tested with the Miiverse smartphone browser implementation - and in so doing enhancing the user experience on the 3DS and Wii U.
"Connecting with consumers across smart devices is an important strategy for maintaining interest in Nintendo's own hardware."
Nintendo reminded us that the 3DS was the best-selling games console of 2013, which included UK and US territories, so the company is definitely doing something right.
Let's just hope Nintendo has a solid plan. In terms of software, it's at the top of its game right now. It just needs to convince people that the hardware is worth it too.
- But what do we think of the Wii U?