Nintendo foments Revolution as profits dive
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Manufacturing News, Source : TheManufacturer.com
Published : 29 Nov 2005 19:59
Japanese videogame manufacturer Nintendo reported a fall in profits of 21 percent in the first half of 2005, to $308 million from $388 million one year earlier.
The profit dip is due in part to lower sales of its game consoles, including the Nintendo GameCube—sales of which were down 36 percent—and Game Boy Advance and Nintendo DS, as well as a drop in sales of its videogame software.
Sales dropped six percent to $1.5 billion from $1.57 billion, while research and development costs were up 36 percent, to $125 million. Nintendo also announced a profit forecast of $632 million profit for the year (ending March 2006), based on $4.2 billion in sales.
The videogame company plans to introduce a new game console, currently called the Nintendo Revolution, next year. The game system will compete with the new Microsoft console, the Xbox 360, which was just recently launched, as well as rival Japanese game maker Sony’s PlayStation 3, also due next year.
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