Wii waves a magic wand for Nintendo
Nintendo has raised its financial targets for this year after quadrupling quarterly profits on the back of strong demand for its Wii games console and DS handheld device.
The computer gaming giant recorded a pre-tax profit of 131bn yen between April and June, a 302% jump on the same quarter of 2006.
Nintendo has now raised its profits forecast for the current financial year, to March 31 2008, by 40%. Shares in the company rose by 3.6% today to a new high of 56,800 yen (£229).
Last month it overtook Sony to become the 10th most valuable Japanese company.
The motion-sensitive Wii console has been a surprise hit since launching in November 2006, leading to worldwide shortages. Nintendo sold 3.4m units in the last three months, taking its total sales to 9.27m.
The Wii has appealed to a non-traditional audience as well as typical gamers, with its wireless controller that can be simulate playing tennis or bowling as well as sword fighting or steering a truck.
Sales of Nintendo's DS console were also strong with almost 70m units sold, taking total sales to over 47m. One of its most popular games is "Brain Age", a puzzle game that aims to improve mental agility.
The computer gaming giant recorded a pre-tax profit of 131bn yen between April and June, a 302% jump on the same quarter of 2006.
Nintendo has now raised its profits forecast for the current financial year, to March 31 2008, by 40%. Shares in the company rose by 3.6% today to a new high of 56,800 yen (£229).
Last month it overtook Sony to become the 10th most valuable Japanese company.
The motion-sensitive Wii console has been a surprise hit since launching in November 2006, leading to worldwide shortages. Nintendo sold 3.4m units in the last three months, taking its total sales to 9.27m.
The Wii has appealed to a non-traditional audience as well as typical gamers, with its wireless controller that can be simulate playing tennis or bowling as well as sword fighting or steering a truck.
Sales of Nintendo's DS console were also strong with almost 70m units sold, taking total sales to over 47m. One of its most popular games is "Brain Age", a puzzle game that aims to improve mental agility.
posted by auto at 9:52 AM
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