Nintendo enjoying big time boom

Profits up 77%

24 April 2008 10:14 GMT / By Katie Scott

Sales of the Nintendo Wii and DS are driving profits at Nintendo, which are posted record annual results today.

The company is reporting that its net profits are up 77.2% as compared to last financial year at Yen 174.3 billion, which equates to 1.1 billion euros or £731 million.

The company's revenues have now hit a whooping Yen 966.5 billion or 5.95 billion euros, which is a 90% increase on the 2006-07 financial year while operating profits enjoyed a 150% rise.

Nintendo revealed that it has sold more than 23 million Nintendo DS units during the year, and 123 million DS games.

And 5.84 million Wii consoles and 29 million games have been sold since this next-gen toy launched in December.

The gaming giant is also confident that the boom will continue, predicting global DS sales of 22 million units and 130 million games for 2007/8.

And it says that sales of the Wii will hit 14 million consoles and 55 million software titles this coming financial year.

Overall, profits are predicted to go up yet another 20%.