Nintendo hikes profit forecasts

TOKYO - Nintendo Co. on Friday raised its profit forecast by more than one quarter for the current business year on strong sales of its Wii and DS video game consoles as well as a weaker yen.

By (AFP)

Published: Fri 29 Aug 2008, 1:29 PM

Last updated: Sun 5 Apr 2015, 12:03 PM

Net profit is now expected to surge 59 percent to a record 410 billion yen (3.7 billion dollars) in the year to March, up from a previous goal of 325 billion yen.

Operating profit is predicted to increase 33 percent to 650 billion yen, up from 530 billion yen forecast previously.

Nintendo, the video game giant behind Mario and Donkey Kong, has long dominated the market for handheld machines with its Game Boy and DS series.

Now it has also trumped Sony Corp. in home video game consoles with the Wii, whose innovative controller can be used to simulate the swinging of a tennis racket or even Harry Potter's wand.

Nintendo now expects to sell 26.5 million Wii machines and 30.5 million DS consoles in the current business .

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