During the course of a Friday briefing for analysts in Tokyo, console-maker Nintendo's President, Satoru Iwata, said that his company had plans underway to launch its new Wii U home console in time for the 2012 year-end holiday shopping season.

Revealing that the new console will first be debuted in Japan, the US, Australia, and Europe, Iwata said that the finalized version of the Wii U will be showcased by Nintendo at the annual Electronic Entertainment Expo scheduled to be held in Los Angeles in June.

The new Wii U console will succeed the hugely popular Wii; and will mark a significant launch in the wake of Nintendo's endeavors to begin a fresh growth cycle, at a time when the company's revenue and profits have received big blows from the strong yen --- Nintendo is expecting a Y65 billion net loss for the fiscal year that will end in March!

In addition, with Nintendo already having made some pertinent mistakes in connection with the sales strategy for its 3DS handheld leading to its failure, Iwata is leaving no stone unturned to ensure that the company is bang-on in terms of the release of the Wii U gaming machine.

Noting that, for the Wii U, Nintendo will "put to use our bitter experience with the 3DS," Iwata said that Wii U - which will also offer the `mobile gaming' advantage to the gamers - will introduce new ways of playing which will almost make the term "home console" obsolete.