Profits more than double at Nintendo
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Nintendo Co. said Thursday profits more than doubled in the six months ending Sept. 30 on the soaring success of its hit Wii and Nintendo DS game consoles.
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The company said quarterly net profit jumped to 73.7 billion yen, or $646.7 million, as sales of digital cameras, televisions and other electronics more than offset losses at its video-games unit.
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The leading electronics and entertainment retailer continues to produce strong results.
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Japan's Nintendo Co. on Tuesday raised its 2006/07 net profit forecast by 20.5 percent, beating market expectations, thanks to strong sales of its DS hand-held video game player and a weaker-than-expected yen.
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Nintendo is now the second largest manufacturer of consumer electronics.
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Raises forecast The phenomenal success of Nintendo's Wii games console has helped the Japanese manufacturer to double its profits during the six months to the end of September. Nintendo said on Thursday that net profit reached 132.42bn yen ($1.2bn) for the first half of its latest fiscal year, up from 54.4bn yen for the same time last year. Group sales more than doubled to 694.8bn yen ($6.1bn) from 298.82bn yen last time around.â¦
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Japanese video game maker Nintendo Co. Ltd. reported a 39.1 percent rise in operating profit for the first half on Thursday and raised its sales target for a new, keenly awaited portable game player.
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The video game publisher blows away expectations and ups the ante for fiscal 2005.
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Japanese video game maker Nintendo Co.  Ltd. reported a 39.1 percent rise in operating profit for the  first half on Thursday and raised its sales target for a new,  keenly awaited portable game player.
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A recovery in electronics sales offset losses in video games and helped boost Sony's profit for the July-to-September quarter more than 40-fold over the same period a year ago.
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Nintendo says it has sold more than 600,000 of its new Wii game consoles, since its launch eight days ago in North America.
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Gaming console giants Nintendo and Sony are enabling music and video playback on their popular gaming devices in an effort to dominate the lucrative market, expected to account for sales of $2 billion in the United States this year.
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The consumer electronics retailer continues to produce strong results.
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U.S. sales of video game hardware  and software were $1.18 billion, with Nintendo Co Ltd's  (7974.OS) Wii console keeping a slim edge over rivals amid  ongoing supply constraints.
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Japan's Nintendo Co. on Tuesday raised   its 2006/07 net profit forecast by 20.5 percent, beating market   expectations, thanks to strong sales of its DS hand-held video   game player and a weaker-than-expected yen.
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The company spends the big bucks on an acquisition that will double its annual revenues.
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Nintendo Co. Ltd.  has sold more  than 3 million units of its Wii game console in Japan, three  times the sales of Sony Corp.'s  PlayStation 3, game  magazine publisher Enterbrain said.