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Nintendo Again Raises Year End Profit Forecasts
Posted by Christopher Sasaki Categories: Corporate News, Nintendo, Nintendo DS, Wii,
Nintendo last raised its profit forecasts for the fiscal year in October, when it adjusted its estimates upwards based on better than expected sales of the Nintendo DS. Recently, Satoru Iwata hinted that another adjustment might be in the future. Today, Nintendo of Japan again raised its profit forecasts by 20% to 120 billion yen, again based on stronger than expected sales of its DS console. The DS and software just continues to surge in popularity; a report on Bloomberg News indicates that the company now expects to sell roughly 23 million DS consoles for the fiscal year with related software sales of 100 million. While Nintendo did not raise its Wii sales projections, the general belief is that the only reason this was not adjusted upwards is that the company does not believe it can manufacture any more units. Overall, the success of the DS worldwide has been nothing short of amazing, allowing Nintendo to build up a war chest for the console wars.
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| Bloomberg
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| Nintendo News Release (PDF)
Gallery: Nintendo Again Raises Year End Profit Forecasts
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Analysts: Sony To Lose $560 Million On Battery Recall, PS3
Posted by Christopher Sasaki Categories: Corporate News, Hardware, PlayStation 3,
Analysts are reporting that Sony will lose an estimated $560 million due to the massive battery recalls and the price cut for the Playstation 3. The analysts estimate that the battery recalls will run almost $340 million at the low end of estimates. Certainly, lawsuits and further recalls could lead this figure to run higher. Sony’s announced price cut in Japan would also contribute an estimated $220 million to the company’s losses this year, on top of the losses that Sony already sustains on each console sold. Sony’s forecasts for the year estimated that they would earn $1.1 billion, so these losses in effect will cut Sony’s profits in half.
Read More | ITNews