Upon succeeding Hiroshi Yamauchi as President of Nintendo of Japan, Satoru Iwata talked about Nintendo's future strategy and the future of the game industry. He reiterated Nintendo's careful approach to online gaming, citing a limited appeal. While the company would try and work closer with 3rd party publishers, it will also continue to rely heavily on its prime franchises like Mario or The Legend of Zelda. Another aim will be better titles and shorter development times resulting in greater profitability. Iwata also indicated he wanted his company to make extensive use of the connectivity feature between GameCube and GameBoy Advance.
Describing the industry environment as a a whole, Iwata said, "We can't be optimistic about the game market. No matter what great product you come up with, people get bored. I feel like a chef cooking for a king who's full." And while pressing for a focus on games, Nintendo's new President aims to have sold 50 million GC units by March 2005. Just to add, "The effort to produce machines with better technology has reached its limit. If things continue, they may lead to the decline of the entire game industry."