Nintendo president takes blame (and 50 percent pay cut) for 3DS woes

Nintendo president Satoru Iwata is taking a slap on the wrist for poor sales of its 3DS ... a slap with a yardstick wrapped in barbed wire and set on fire. Kotaku Japan reports that Iwata addressed shareholders in a meeting with the news that he's taking responsibility for the 3DS, which will result in a whopping 50 percent cut in his pay.

"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," Iwata said. Nintendo announced yesterday that its 3D successor to the crazy successful DS line of consoles, the 3DS, would have its price chopped down to $169.99 from its $249.99 launch price. That's an $80 drop, and the system just released this March.

During a Q&A, Nintendo admitted that it must provide something that mobile phones--like the iPhone--cannot offer. While that's telling of Nintendo's increased focus on its online offerings with the 3DS and its upcoming Wii U console, that's still a tall order. The 3DS, which still uses the Friend Code format, does not have a social gaming ecosystem comparable to even the iPhone's mildly-appealing Game Center. Nintendo is clearly making strides toward the digital age of gaming, but it might need a few pole vaults to catch up.