“Nintendo has weathered the economic downturn relatively well thanks to the popularity of the Wii and its DS handheld player, which have catapulted it to the top of the global game market ahead of Sony Corp. and Microsoft Corp.,” Layne reports. “But Nintendo expects its profit to fall for the first time in four years in the current year to March 2010 as the Wii’s momentum slows and the company faces increased competition in the handheld business from Apple Inc’s iPhone.”
Layne reports, “The company said on Thursday its operating profit came to 40.4 billion yen ($426 million) in April-June, against a 119.2 billion yen profit in the same quarter a year earlier and a consensus estimate of 74.5 billion yen from the average forecast of three analysts polled by Thomson Reuters.”
“Nintendo reiterated its forecast for operating profit to fall to 490 billion yen in the full year to next March, against the market consensus for 514 billion yen,” Layne reports. “Nintendo reiterated its full-year forecast for Wii console sales of 26 million and the DS of 30 million.”
Full article here.
5 Day Most Commented