Leading games publisher Electronic Arts has admitted that it backed the wrong horse initially when it decided to focus all of its efforts on the Xbox 360 and PS3 during the console period. CEO John Riccitiello conceeded that a lot of others realized the Wii was going to be a success before EA themselves anticipated this.

He added, “The last transition was tough because we typically have two to three platforms and a five year period… One of the biggest challenges, of course, was that not a lot of people anticipated the success of Nintendo that they’ve shown with their wand controller and their Wii.

“That got ahead of us a little more than our expectations.”

Shares have been languishing around the $50 mark for the past few years.

“Our stock hasn’t moved as much as we’d like,” Riccitello told one investor during a Q&A. He admitted that EA was on the “wrong horse” by concentrating mainly on the PS3 and Xbox 360 while throwing less resources towards the Wii during the console transition.