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Strong Wii sales push Nintendo up


Annual profit doubles, raises forecast

keeps going strong and menacing Sony's and Vole's console outfits.

Earlier today it reported that its annual profit more than doubled and it expects it to grow by a further 9 percent this year. The growth can be attributed to high demand for its popular Wii console and DS handheld toy.

Since it introduced the Wii back in 2006, Nintendo has seen growing profits and revenues across the board. Operating profit in the last fiscal year, ending in March, were 487 billion yen ($4.7 billion), up 215 percent from last year's 226 billion yen.

More than a year and a half since the Wii launch, Nintendo doesn't seem to be in a hurry to drop prices, much unlike its competitors which had no choice but to lower prices for their Xbox 360 and PlayStation 3 consoles in the face of lackluster sales. There were some rumors that Nintendo will, indeed, lower Eee pricing this spring, but so far there's no indication it will do so.

More here.
Last modified on 24 April 2008
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