Nintendo quadruples profits for latest quarter
Tokyo (Japan) – Thanks to excellent sales of its Wii game console, Nintendo has reported a four-fold increase in net income during the previous fiscal quarter. Nintendo also raised its full-year profit forecast by 37%.
From April to June, the company made $668.82 million profit and had double the sales from the same period last year. The majority of the profits came from the brisk sales of the Wii console and for the quarter, Nintendo sold approximately 3.43 million Wii consoles. Since the November launch, 9.3 million Wiis have been sold.
(¤3)
According to figures from the NPD Group, the Wii has outsold the PlayStation 3 and Xbox 360 by a 4 to 1 and 2 to 1 margin in June. Both Sony and Microsoft have recently slashed the prices on their more expensive consoles in hopes of better competing with the $250 Nintendo Wii.
- AMD market share in retail market holds steady, at staggering cost
- Politicians, P2P a threat to national security
- Apple quarter result: Expects iPhone sales to reach 1 million within 3 months
- Second Rotation takes the hassle out of online auctions
- 29 percent of web pages host malware, says Sophos
- CNN Youtube debate a hit among young viewers
- Vulnerability in Firefox' password manager
- 2K Games lifts the curtain off huge Civilization expansion pack
- Denon blasts its way to Blu-ray market with high-end player
- Intel develops high-speed silicon laser modulator
- Massive scores big in-game ad deal with EA
- Humans still tops in poker
- Performance and mobility requirements to boost SSD market above $5 billion in 2011, says IDC
- PC market on track in 2007, says iSuppli
- SiS671-based ECS motherboard to enter mass production
- Motherboard makers doubt performance claims of upcoming Intel IGP drivers
- Most played console in June was...PS2?
- Sony profits double despite deeper video game losses
