Sunday, August 31, 2008

Nintendo raises forecast on higher Wii, DS sales

Nintendo Co. on Fri. raised its full-year profit forecast 26 percent on increased sales projections for the Wii home console and Nintendo DS handheld.

The company expects net income to increase 59 percent to 410 billion yen ($3.8 billion) in the fiscal year ending Mar. 31.

Nintendo expects Wii sales to reach 26.5 million this year, an increase from a 25 million-unit projection in July.

Additionally, the Nintendo DS handheld is expected to sell 30.5 million units from a July projection of 28 million units.

Nintendo in July recorded a Q1 profit of 107.27 billion yen ($996 million) on strong sales for Wii.

Total Wii sales have reached 29.6 million, ahead of Sony Corp.'s Playstation 3 at 14.4 million and Microsoft Corp.'s Xbox 360 at more than 19 million.

This winter it will retail a new music offering called Wii Music.

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