• Nintendo President Tatsumi Kimishima announces the company's financial results and future of corporate strategy during a press briefing in Tokyo on October 29, 2015.

Nintendo President Tatsumi Kimishima announces the company's financial results and future of corporate strategy during a press briefing in Tokyo on October 29, 2015. (Photo : KAZUHIRO NOGI/Getty Images)

Nintendo has announced their first iOS and android compatible mobile game, the Miitomo, during the press release. The game will be available on both iOS and Android devices by March 2016. The free-to-play game is just the first of five titles that the company will be releasing which will followed by another in March 2017.

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In a report byThe Wall Street Journal, the Miitomo is the first ever Nintendo made mobile game, together with DeNa. The game was originally planned to be released by the end of 2015 but was pushed to March 2016. According to Nintendo President Tatsumi Kimishima, the will release five mobile games by March 2017, and all games will be available in both iOS and Android operated devices.

The Miitomo is being considered a "freemium" type of game, which means it is free and available to everyone, though there will be payable in-app purchases. According to the live coverage of the wall street journal, the company is in the works of releasing more games, but it will not be free and needs to be paid for before being downed.

Miitomo is based on the Mii avatars which was released back when the first Nintendo Wii was introduced years ago. Players will get to create their avatars and interact with other players online. Though its other functions or gameplay is yet to be revealed to the public.

According to Tech in Asia, the Miitomo announcement got investors disappointed dropping their market to about 10 percent while DeNa's market fell at about 16 percent. Serkan Toto said "It would have been so easy - just cooperate with DeNa to create a free-to-play mobile game with Mario or other popular IP and set yourself up for a new, potentially enormous revenue stream."