Nintendo warns of weaker profits
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Nintendo has posted a 19% drop in annual profits and warned that results for its current financial year will be weaker than previously expected. Nintendo needs to bring out the Wii console quick because at $199 it’s bound to sell no matter how good the performance.
The firm’s sales for the past financial year fell 1.2% to 509bn yen, hit by falling demand for its outgoing GameCube console and supporting games. Strong sales of its DS handheld and titles such as Nintendogs failed to make up for the shortfall. It is planning to launch the Wii console in the final quarter of the year, competing against Microsoft’s Xbox 360 and Sony’s PlayStation 3.
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