Nintendo's Satoru Iwata revealed the company's plans for this year, during Nintendo's annual conference. Iwata confessed to the public and the company's share holders, that they made some mistakes with the launch of the 3Ds which lead to the disastrous ROI, but they have learnt a bitter lesson a plan to tackle the WiiU's launch differently. Iwata confirmed the plans to launch the WiiU console in time for this year's Christmas season for an unspecified price tag. He also confirmed that the company intends o have a full blown reveal of the final tech during this year's E3 conferences which will be held in June as always. Nintendo also announced the implementation of the NFC (near field communication) technology in the WiiU controller which allows it to communicate with devices and cards that sport the same system. This tech will allow the WiiU to communicate and share media with NFC devices, process micro transactions with NFC enabled credit cards, and allow the WiiU to communicate with NFC figures, cards, or peripherals. Nintendo also went ahead and joined the party, by announcing their new online service, the Nintendo network, which aims to provide their customers with the same services offered by the PSN and XBLA, such as, DLCs, Add ons, digital distribution, and social networking. Iwata is confident that this fiscal year both the 3Ds and the WiiU will generate enough revenue to make up for the past year's losses.