Nintendo ups profit forecast, incoming money storm (Joystiq)

[R.O.B.]

Filed under: Nintendo DS, Nintendo Wii, Business

Nintendo tripled its operating profit forecast to ¥420 billion ($3.7 billion) for this fiscal year. This would be Nintendo's second revision this year -- they did about four upward revisions last fiscal year -- and is an 86% increase over last year's results. Nintendo also raised its software sales goal by 35% to 97 million units.

From the Japanese perspective in the Reuters report, the announcement of Monster Hunter on the Wii earlier this month is seen as a coup for Nintendo against Sony. It showed that the PlayStation franchise support may be eroding. As far as competition goes, Nintendo still holds they aren't in the same field as Xbox and PlayStation, so don't expect a price cut. Senior Managing Director Yoshihiro Mori says, "The way people play with the Wii and the type of games people play are quite different from rival offerings. The products are quite clearly differentiated ... We don't see any need to cut prices." Unless something dramatic happens, Nintendo is gonna see profits for the foreseeable future. And we still have no idea on the WiiFit impact yet.

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