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Wii has scored success, Nintendo Q1 profit up 31.5 pct!

By Amarendra Bhushan for CEOWORLD Magazine Updated:July 30, 2008

I am not very big fan of video game as such. But, Nintendo saw its profit for the first fiscal quarter jump 34 percent from a year earlier as sales of its hit Wii video game consoles shot up. Dindn’t stop me writing on it.
The big factor behind the stellar performance was the Wii and its game software, including the “Wii Fit,” which has drawn the health-conscious to simple exercises like yoga and aerobics.

The Japanese manufacturer of Super Mario and Pokemon video games and world’s second- largest maker of home video-game players reported Wednesday a 107.27 billion yen (US$996 million) profit for April-June, up from 80.25 billion yen the same period the previous year.

In an in-depth interview with German website ‘Spiegel’ Satoru Iwata, Nintendo’s President, was asked if Nintendo was definitely going to be going down the same route as its competitors.

Spiegel ONLINE: Microsoft and Sony have plans to do its on-line business. Both sell movies on their consoles. Is there behind Nintendo?

Satoru Iwata, President of Nintendo: No, we do not plan, films or similar online for sale, that is not our business. We are a video game company, we do not have the infrastructure, a huge online service up. There are on-line elements in our games, but only if the the game even more intense experience. Then sell it more and more games consoles, because customers are satisfied.

- Nintendo sold 5.2 million Wii machines worldwide during the quarter.
- Sold 1.7 million more machines than for the same period last year.
- Quarterly sales surged 24 percent to 423.38 billion yen (US$3.9 billion).
- Nintendo has now sold a cumulative 29.6 million Wii machines worldwide.
- Company planning to sell 25 million Wii consoles and 28 million DS machines for the fiscal year through March 2009.
- Sony may be about to lose its 13-year title as the world’s biggest games console maker, despite a surprise jump in profits at its PlayStation division.

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