Wii has momentum to top PS2 in Overall Sales

Nintendo also passes Sony Corp. in Japan Market Capitalization.

Nintendo has become one of the top 10 most valuable companies in Japan topping Sony Corp., but that's not the big news.






Nintendo's President Satoru Iwata has an eye on a larger goal, breaking the PS2's record of units sold, which stands at more than 120 million.

The Wii has already outsold the PS3 and Microsoft's XBox 360 since it's launch last November, especially by targeting a different audience than the other two consoles. Where Microsoft's and Sony's offering are targeted toward hard-core gamers who are willing to pay a premium, the Wii appeals to the broader market, namely women, children, and the elderly. The $250 price tage also helps, as well as the innovative control options.

So far the Nintendo DS has already taken the record for fastest selling gaming system in the $30 billion gaming industry.

Nintendo has sold 5.8 million units of the Wii by March 2007, and is predicting another 14 million sold by March 2008.

Iwata has this to say about the recent Sony price cut and its affect on their target audience, "I wouldn't say there is no overlap between the group of customers Sony is targeting and the group of users that Nintendo is targeting. But that overlap is quite small."

Nintendo is already turning a profit on Wii hardware sales, something Microsoft and Sony have been unable to duplicate. Add this to the list of Nintendo successes as of late.

Source: Yahoo!

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