Last week, Nintendo announced that their next console, codenamed NX, will launch in March 2017. While that in and of itself is good news, what was revealed around that statement shows that the company is in a dire situation.

This announcement came as part of Nintendo’s annual financial reports. Once of the biggest take aways is that their profits are down 61 percent. Part of this is to blame on the lack of major, system-selling titles released toward the end of the year. For comparison, 2014 saw the release of major titles such as “Mario Kart 8,” “Super Smash Bros. for Nintendo 3DS and Wii U” and “Pokemon Omega Ruby and Alpha Sapphire.”  By comparison, 2015 had some hits for the company, such as the surprise success that was “Splatoon” and “Super Mario Maker,” Nintendo’s holiday line up that year was lacking, with “Xenoblade Chronicles X” being the main triple A title at the time.

Even without considering the rough year, it is clear that Nintendo’s current home console, the Wii U is on its last legs. Despite having a head start of a year over the Playstation 4 and the Xbox One, the Wii U has only sold 12 million units world wide since 2012. By comparison, Microsoft has sold 20.7 million Xbox One units, while Sony has sold 39.8 million Playstation 4 units. Back in 2014, Nintendo made a huge push to turn the Wii U around. With the game lineup, it looked like it could make a comeback. Today, however, those hopes were for naught.

Now, the big question is, “Why did the Wii U fail?” For starters, the Wii U had very poor third-party support. At first, a lot of third-parties such as EA, Ubisoft, Warner Bros. Interactive Entertainment, Sega and Activision were on board, even if a lot of those games were ports of existing games. Most noticeably, Ubisoft brought two games in the “Assassin’s Creed” series to Wii U after skipping out on the Wii, and “Rayman Legends” was originally planned to be a Wii U exclusive. However, a lot of these companies either jumped ship or made inferior versions of games from other platforms when it became clear that their games were not selling. Now, the only major third party game on the horizon for the Wii U is “Lego Star Wars: The Force Awakens.” Other than that, the main sources of third-party games are indie titles. Excellent indie titles to be sure, but they are not as likely to gain people’s attention.

Also, there was a lot of confusion early on as to what the Wii U was. I remember talking to a lot of people who thought the Wii U was just the Gamepad and it was an accessory for the  Wii. Even after that confusion was cleared up, there did not seem to be any indication that third-parties knew what to do with the Gamepad. If Nintendo had just stuck to a normal controller, more people may have paid attention and supported the console.

Further evidence that Nintendo is giving up on the Wii U is that “The Legend of Zelda Wii U” has been delayed yet again. The game was originally announced at E3 2014 and was planned to be released in 2015. Early on in 2015, Nintendo revealed that the game was delayed into 2016 in order to ensure that the game was up to fan expectations. It looked like this would stick when the 2016 release was reiterated during the November 2015 Nintendo Direct. Not only has Zelda Wii U been delayed to March 2017, but the game is now going to have a simultaneous release on the Wii U and the NX. A similar situation happened with “The Legend of Zelda: Twilight Princess.” This game was originally going to be released on the Gamecube during the 2005 holiday season, only to get delayed and resurface as a simultaneous release for the Gamecube and the newly launched Wii the following year.

To make matters worse, Nintendo has confirmed that Zelda will be the only game they would have playable at E3 2016 in June, but they also have no plans to show the NX at the show. While it is nice to know the general release date, the fact that we still know next to nothing about the game or the system is worrisome. While Nintendo is known for taking their time, all of this silence is getting on my nerves.

In the meantime, there is a noticeably sparse release schedule for both of Nintendo’s current systems. To be sure there are still some games to be released for the Wii U. This June will have three noteworthy games for the system. First Comcept will finally release “Mighty No. 9” for all major systems including Wii U, along with PC, PS3 and Xbox 360, assuming they do not push back the date any further. However the 3DS and Vita versions will be released at a later date. Also Nintendo will release two games on June 24, “Tokyo Mirage Sessions #FE” and “Mario and Sonic at the Rio 2016 Olympic Games.” In addition “Paper Mario: Color Splash” will be released later this year. Finally, the Wii U will get a major indie title in the form of “Yooka-Laylee” in October.

The 3DS on the other hand is still going strong. The next major release for the system is “Kirby: Planet Robobot” on June 10. Also, “Ace Attorney 6” will be released in Japan on June 9. A worldwide release has also been confirmed. Neither of these compare to what is sure to be Nintendo’s biggest selling title this year. “Pokemon Sun and Moon” will release this Holiday season.

Finally, Nintendo also announced their next two Mobile titles. They will be new installments in the “Fire Emblem” and “Animal Crossing” series. Unlike “Miitomo,” they have been confirmed to be actual games. The “Animal Crossing” app has been confirmed to connect to other games in the series, but it is unclear if this means “New Leaf,” “Happy Home Designer” or a new game that has yet to be announced. Both apps will be released this Fall.

If anything, the failure of the Wii U shows that Nintendo is down but not out. They will focus on regaining their footing this year and come out swinging with the NX in March 2017.