Level up for Nintendo profits

25-07-2007

Level up for Nintendo profits
Nintendo has posted drastically-improved quarterly profits thanks to robust sales of its Wii and DS consoles.

The Japanese gaming giant said in the three months ending June 30th it earned 80.3 billion yen (£325 million), which compares to the 15.6 billion yen (£63 million) profits recorded in the corresponding period last year.

In its latest earnings release Nintendo revealed net sales in the last quarter had risen 160 per cent to 340 billion yen (£1.4 billion).

The company, which lost its stranglehold on the computer game industry to newcomer Sony in the mid-1990s, partly attributed its reversal in fortunes to "continuous robust sales" of its handheld DS.

In the last three months the DS sold 6.98 million units worldwide thanks to the release of Pokemon Diamond and Pearl in Japan, giving it total sales of 47.27 million since its December 2004 release.

The Wii meanwhile enjoyed sales of 3.43 million in the last quarter, meaning 9.27 million consoles have been sold since last year.

In designing the DS and Wii, which features a motion-sensitive controller, Nintendo reached out to a previously untapped market with a range of 'non-games' such as Brain Training and Wii Sports.

But the move has been an unqualified success so far, with the company gaining a march on the more powerful and expensive consoles on offer from Sony (PlayStation 3) and Microsoft (Xbox 360).


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