Says the so called 'big titles' need long development periods.

The Legend of Zelda: Twilight Princess screenshot

Nintendo president and CEO, Satoru Iwata, has said Nintendo is sorry for disappointing its hardcore fans by not revealing a new Zelda or Mario title at its E3 2008 media briefing.

"If there is any perception that Nintendo is ignoring the core gamers, it's a misunderstanding and we really want to get rid of that misunderstanding by any means," Iwata told Forbes. "We are sorry about [the E3] media briefings, specifically for those who were expecting to see Nintendo show something about 'Super Mario' or 'Legend of Zelda.'

"However, the fact of the matter is the so-called 'big titles' need a long, long development period. ... We really didn't think this year's E3 media briefing was the time to do so."

Post conference, Nintendo did quietly reveal it's working on a new Pikmin title, which coupled with Animal Crossing: City Folk did at least provide something for Nintendo's hardcore to look forward to.