It's been some few days now that we've known Nintendo was planning on announcing their expansion into a new business area. Some expected that to be mobile game development, but Nintendo apparently has broader goals than that. Today Nintendo announced their aspirations to expand into developing hardware and software for what they describe as the "Quality of Life" business.
Nintendo describes "Quality of Life" business as being a subset of the entertainment products they're already working on. They'll approach this new business in steps, starting with health. Other steps that they didn't elaborate on tonight were learning and lifestyle. Rather than imitate what other companies are developing, or even what say themselves are creating with products like Wii Fit U, Nintendo's goal is to create a "Blue Ocean" product. A product unlike anything else offered.
The examples that Nintendo President Iwata referenced were in fact Wii Fit U, but rather than relying on hardware they've already created for their gaming business they want to create something standalone. The product will still be a mixture of hardware and software and it will be what Nintendo calls a "non-wearable." That is to say, they think the "wearable" health market is already saturated and not worth competing in.
Despite Nintendo's presentation seemingly focusing on this new "Quality of Life" venture for the company, Iwata assures that the gaming platform is still Nintendo's focus. Can Nintendo offer a high-quality health and fitness product alongside their gaming platforms without either side suffering? Time will tell.