Off the back of extremely disappointing Wii U sales, declining profits and cratering share price, Nintendo's president has admitted Mario's future phone might one day be - at least partially - your smartphone.

Satoru Iwata said at a press conference that the company is "thinking about a new business structure" after announcing that it expects a loss of $240 million in this financial year.

"Given the expansion of smart devices, we are naturally studying how smart devices can be used to grow the game-player business."

"The way people use their time, their lifestyles [and] who they are have changed," he said. "If we stay in one place, we will become outdated."

The idea of Nintendo making games for phones or other consoles is not new - far, far from it. Industry 'analysts' have consistently said that the company should broaden its appeal, given its apparent inability to match the new generation of home consoles on its own.

But don't expect Nintendo to give up on hardware just yet. Any phone or tablet releases will likely be smaller-scale, brand-building exercises, rather than full scale releases if Iwata is to be believed.

"It’s not as simple as enabling Mario to move on a smartphone," he told Bloomberg.

For now Nintendo will forge ahead with its established Wii U and 3DS plans. And as ever, whatever its financial performance there are some great games to look forward to, including new Mario Kart and Smash Bros titles, plus a new instalment in the Zelda franchise.

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