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Nintendo needs Wii U to hit big with holiday shoppers

by Take Two

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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

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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