Less profit despite brisk demand
Whether or games consoles - Nintendo in the videogame world is still the market leaders. Its profit expectations, the company had now cut back, however.
This is not about the fact that Nintendo sold fewer consoles and games. On the contrary, still are the Wii and Nintendo DS consoles and the games Wii Sports and Mario Kart to the absolute blockbusters in the industry.
But the rapid rise in the value of the yen, the group pushes for course correction for the current fiscal year. How the Kyoto-based company announced today, is expected to net profit for the fiscal year ending 31 March 2009 is now 345 billion yen (2.7 billion euro) amount, 16 percent less than expected two months ago. The increased external value of the yen overshadowed by strong sales of Nintendo's successful Wii and DS game consoles. Only in August the group had raised its forecast. The yen has also forced other Japanese electronics companies like Sony and Canon, to screw their earnings expectations downward.
Nintendo now expects an operating profit of 630 billion yen, having been originally expected in August, even 650 billion. The turnover is expected to amount to the current objective two trillion yen. Based on the first six months of the fiscal year Nintendo won an increase in net profit by 9.4 percent to 144.8 billion yen. Operating profit rose by 33.6 percent to 252.2 billion yen and sales by 20.4 percent to 836.9 billion yen. The company raised its sales target for the Wii console to one million to 27.5 million units. For the DS, the Group continues from one paragraph from 30.5 million units
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