Nintendo Out-Guns The Competition
October 25, 2007 by Douglas A. McIntyreNintendo had another monster quarter. Group net profit soared to ¥132.42 billion ($1.16 billion) in its fiscal first half from ¥54.35 billion a year earlier. Group sales more than doubled to ¥694.80billion from ¥298.82 billion, while operating profit shot up 181% to ¥188.78 billion.
According to The Wall Street Journal "since the Wii made its debut in November, Nintendo has sold 13.17 million of the consoles world-wide. It again raised its sales outlook for the Wii for this fiscal year to 17.5 million units from 16.5 million." The company also raised forecasts for its DS game platform.
The holidays are going to be unhappy for Sony (SNE). Its PS3 sales are likely to continue their poor showing even with a new price cut. The Wii is simply too popular.
Douglas A. McIntyre
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