Nintendo had hoped that the launch of the PlayStation 4 and Xbox One would renew interest in console gaming and drive sales of the Wii U, but one analyst believes that Nintendo will not meet its profit goals for the system.

Eiji Maeda, an analyst at SMBC Nikko Securities Inc, said he believes that the Wii U console will not meet the goals Nintendo had set forth for the financial year, according to Bloomberg. Nintendo had set a goal of selling 9 million Wii U consoles during the 2013 financial year. In actuality, the Wii U has sold around less than half a million Wii U machines in the first half of the financial year. With a few months left in the 2013 financial year, Nintendo is unlikely to meet its goal. Maeda believes that the Wii U's lack of sales can be attributed to the company's failure to attract casual gamers as it did with the original Wii.

"Wii U has become a game console only for Nintendo fans...Wii U needs groundbreaking software to draw casual and hardcore gamers."

This opinion is backed up by industry analyst Michael Pachter, who believes Nintendo has buried its head in the sand when it comes to the Wii U's ability to appeal to both hardcore gamers and regular consumers:

"They steadfastly refuse to consider that the product is not interesting to consumers... They will fail to hit 9 million, and they will likely miss their profit goals."

Meanwhile, Nintendo President Satoru Iwata backed the struggling Wii U, claiming again that the launch of the PlayStation 4 and Xbox One will be a boost to the Wii U:

"The launch of other video game systems is also good for us because they energize the video game industry as a whole...This year, what Nintendo is promoting is, conversely, to stand out in the game industry for individuality."

However, Nintendo still offered excuses for why its profits will be lower than expected for the year. Nintendo cited "research and development" for the Wii U and "advertising and promotion" costs for the handheld 3DS as reasons Nintendo will not hit its goals. Until Nintendo is able to broaden the appeal of the Wii U and build up a strong enough library that video game fans cannot ignore, the Wii U will continue to fall behind the PlayStation 4 and Xbox One in sales.