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Nintendo needs Wii U to hit big with holiday shoppers

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Nintendo exhibitor Aurielle Rounsaville displays the new game console Wii U at the Nintendo booth during the Electronic Entertainment Expo on June 7, 2011 in Los Angeles, California. The Wii U will have HD graphics, a controller with a 6.2 inch touchscreen and  be compatible with all other Wii accessories.
Kevork Djansezian/Getty Images
Nintendo exhibitor Aurielle Rounsaville displays the new game console Wii U at the Nintendo booth during the Electronic Entertainment Expo on June 7, 2011 in Los Angeles, California. The Wii U will have HD graphics, a controller with a 6.2 inch touchscreen and be compatible with all other Wii accessories.

One item expected to fly off shelves this shopping season is the latest video game console by Nintendo, the Wii U, which hit stores on Sunday.

One item expected to fly off shelves this shopping season is the latest video game console by Nintendo, the Wii U, which hit stores on Sunday.

The Wii U comes at time when Nintendo is in need of a new hit product. Earlier this year the gaming giant posted its first loss in five decades as a public company.

Here with more is Michael Packter, who tracks the video game industry for the financial firm WedBush.  

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