Biz (2599)

Nintendo hits top ten company list for first time

"Taking back market share from Sony"

25 June 2007 10:27 GMT / By Amy-Mae Elliott

Nintendo has moved past Sony in market value and become one of Japan's top ten issues for the first time, Reuters is reporting.

Nintendo has joined Toyota, Honda, and Canon on the list of the ten most valuable Japanese companies. This news saw Nintendo's share price rise 1.5% and Sony's fall 1.1%.

This means Nintendo has managed to oust the PlayStation manufacturer from its decade-long dominance of the game industry.

"It is becoming quite clear that Nintendo is taking back its market share from Sony in the console market while well defending its stronghold of portable games", Mizuho Securities analyst Takeshi Koyama told Reuters.

This success is a result of Nintendo's Wii is outselling Sony's PlayStation 3 by an average rate of three to one and the similar results on the handheld gaming front with Nintendo's DS beating the PSP.

Full tags

Biz, Gaming, Sony, Nintendo