Nintendo Doubles Yearly Profit!
Turns out super expensive consoles and meager software sales is not a worry for Nintendo. Net profits for last year rose more than double than the year prior. Software sales also helped out the cause with an increase of over 90%. I wouldn’t hold your breath for Nintendo to turn 3rd party like Sega.
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This from Aussie-Nintendo.
April 26, 2007 - Nintendo has today announced its massive earnings over the last financial year to March 31, reporting record high revenues of 966.5 billion yen (US$8.13 billion), and net profit of 174.3 billion yen (US$1.4 billion) - an increase of 90% and 77%, respectively, over the same period a year earlier.Not surprisingly, Nintendo attributes the results to full-year sales of more than 23 million Nintendo DS systems around the world, along with 123 million games, pushing the dual-screened handheld over the lifetime sales mark of 40 million systems.
Additionally, after less than five months since its launch, 5.84 million Wii systems have been sold globally - just short of the company’s projection of 6 million. Meanwhile, 29 million Wii games have been snapped up by consumers.
Looking to the year ahead, Nintendo has projected global sales of 14 million Wii systems and 55 million games, along with 22 million Nintendo DS systems and 130 million games.
I have to be honest, this news was a long way coming. (Long overdue too) Nintendo knows the best way to turn a profit is to not lose hundreds of dollars for every console sold. Good work guys!
Thanks to Olly for pointing this out in the forums. -Brian
