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Nintendo Profits Rise On Strong DS Sales

| 26 Oct 2006 13:48

Nintendo posted a massive 72% gain in fiscal second quarter profits on the back of very strong sales of the Nintendo DS, and increased its shipment forecast for the portable system by 3 million units.

Nintendo's strong financial news was universal as it crushed expectations, enjoyed a 59% increase in sales and posted strong operating profits, doubling its performance from the previous year. Nintendo, which is the only company that expects to make money on sales of its next-gen system, is positioned exceptionally well, and its performance in handheld gaming continues Nintendo's traditional dominance in that market. The 3 million unit export increase mirrors a similar 3 million unit decrease by Sony, a 25% drop for the company, on its floundering PSP system.

Earlier this month, Nintendo raised its expectations for the 07 fiscal year from 83 billion yen to 100 billion yen, which would beat last year's 93 billion yen. Nintendo will release the Wii console in the U.S. on Nov. 19.

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