The iPhone and mobile and social gaming on phones and the web generally, coupled with Nintendo's aging technology, has effectively destroyed Nintendo's profits and position in the market. It's about to report its first loss in 30 years.
I really hope the company survives. Plenty of blogs are still suggesting Apple could pick it up. I would truly love to see iPhone Mario Kart, even with the blight of touch screen game controls.
['Most people believe Nintendo is doomed like Sega' via Kotaku]