Nintendo Co. this week said it will release a large system update to the Wii U hardware next week.

The update will address consumer requests, including faster launch of software and a faster return to the Wii U Menu.

In addition, the company will launch the Virtual Console service to the Wii U following the spring system update. The service will offer NES and SNES titles with off-TV GamePad functionality, access to Miiverse, and back-up saves.

Nintendo in Jan. cut its sales forecast for the fiscal year ending Mar. by 17 percent to $7.38 billion.

Nintendo sold 3.06 million Wii U units through Dec. 2012. It cut its Wii U sales forecast to four million units, down from a previous estimate of 5.5 million units. Wii U software sales were cut one-third to 16 million units.

The company posted a profit of $160 million for the first nine months to Dec. By comparison the company recorded a $531 million loss the year prior. It reported revenue of $5.9 billion, down from $6.1 billion the year prior. Finally, the company’s operating loss narrowed to $64.4 million from $180.4 million one year prior.

Nintendo released Wii U, the successor the Wii hardware, to the U.S. market Nov. 18.

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