James Delahunty
25 Jan 2007 7:58
Nintendo has posted a 40% rise in quarterly profits, driven heavily by strong global sales of the company's handheld DS console. The Japanese game maker also stood by its forecast for record setting annual earnings. The Wii console is still also on track to sell 6 million units by March. The company didn't change its latest net profit forecast of ¥120 billion ($990.5 million) for the year to March.
Nintendo's strategy of attracting women, the elderly and casual gamers with the DS handheld console seems to have worked superbly; helped with successful titles such as Nintendogs and the Brain Training games. The strong figures were expected as Nintendo previously raised its outlook for the year to March three times.
"Numbers were really strong, but there was little surprise after the upward revision the other day," Daiwa Institute of Research analyst Eiji Maeda said. "Going forward, its share price will be susceptible to new software titles for the Wii and foreign exchange fluctuations, both of which could affect full-year results."
Nintendo expects to see the success only continue to grow with considerable demand for the Wii console remaining in all its territories.
Source:
Reuters