Scratch Nintendo off of the list of hot holiday gifts.
While many video game industry insiders expected Nintendo's next game system to launch in time for the holidays, the company announced Wednesday that the console — code-named NX — will not go on sale until March 2017. In addition, the company said it will not showcase the NX at E3, the video game industry's annual trade show, this June. Instead, it will unveil the system at an event later this year.
Perhaps just as critical, the company also announced the long-awaited next installment in "The Legend of Zelda" franchise would also be delayed until next March, allowing the game to launch on both NX and the Wii U.
While Nintendo had not previously given a date for NX, all signs until now pointed to a holiday 2016 launch. Wii U sales, meanwhile, have continued to slide. In the last fiscal year, Nintendo said it has sold 3.26 million Wii U hardware units globally. And it's forecasting another reduction in sales for the coming quarter.