Nintendo said Thursday its net profit grew by more than two-thirds in the last fiscal year thanks to strong sales of its next-generation Wii video game console and its handheld machines.
Nintendo, which has long dominated portable consoles, said it had reversed a long decline in the market by introducing games that appeal to new demographic groups such as women and the elderly.
Ninte yen. The Japanese company said it enjoyed strong sales both for its double-screen handheld Nintendo DS and its next-generation Wii, known for its innovative motion-sensitive controller.
"The video game industry is now on a growth path with strong performances in both Nintendo DS and Wii," the Kyoto-based company said in a statement. The Wii is aimed at stealing a large slice of the market for home machines from Sony Corp, whose PlayStation 3 faced repeated delays due to technical glitches before its release.
Nintendo said the market for stationary consoles was "being reinvigorated with the launch of the new game machines by each hardware developer." Analysts said the figures were even better than expected from Nintendo, which earlier this month revised up its sales forecasts for the past year.
"Nintendo's fiscal 2006 results were even better than the good figures analysts had forecasted," said Hiroshi Kamide, an electronics analyst at KBC Securities Japan.