Nintendo shares fell 5% in Tokyo on Wednesday as the company posted June-quarter results that don’t paint a pretty picture. The company managed to swing to an $88 million net profit despite sales that fell 3.8% on-year, but Nintendo’s new Wii U console still isn’t showing any signs of life. A report from earlier this week revealed that U.K. retail giant Asda recently pulled the Wii U from store shelves, and now we know why: June-quarter sales totaled just 160,000 units globally. That figure is down by more than 50% from Nintendo’s March-quarter unit sales, and cumulative sales since the console launched last November total 3.61 million units. Nintendo hopes to sell 9 million Wii U consoles by March 2014.

Zach Epstein has worked in and around ICT for more than 15 years, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications in the US and around the world. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.