Nintendo boosts profit forecast, cuts Wii U sales target
Published on Jan 30, 2013 5:48 PM
TOKYO (AFP) - Japanese videogame giant Nintendo said today it returned to the black in the nine months to December, and lifted its full-year profit forecast as the company looks to shrug off a loss a year ago.
But the Kyoto-based firm also warned over its much-hyped Wii U, saying it was chopping its sales expectations for the new games console in the fiscal year to March and also slashing its overall revenue projections.
The company has been banking on the Wii U to boost its fading fortunes after the original Wii consoles, launched in 2006, proved to be a runaway success as they lured legions of casual gamers into the videogame world with the introduction of motion-sensing controls.
Nintendo said it swung to a net profit of 14.54 billion yen (S$197 million), from a net loss of 48.35 billion a year earlier, and upped its profit target for the year to March to 14 billion yen, from a previous target of six billion yen.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!