With the world in a bit of a credit crunch at the minute it is good to see some companies showing a profit. Nintendo has posted an 8.5% rise in it's net annual profits. The company made just under 279.1bn yen, which is approx £1.85bn, for the financial year ending March 21, 2009. Up from 257.3bn yen the previous year.
It's not as big as the net profits it posted in the last financial year but in an economic struggle a profit's a profit as far as I'm concerned. The success is really down to the Wii console and the handheld DS which have been extremely popular with a wide age range from kids to adults. So whilst other companies such as Sony and Microsoft, two of the other big players in the console market are having to announce job cuts it's good to see Nintendo doing so well.In a statement it said: "While the future of economies around the world is still unclear, the video game industry was less impacted by the economic downturn than most and remained relatively stable in spite of the large consumer spending decline." The company sold 25,950,000 Wii consoles and 31,180,000 DS machines in all last year and is expecting it's sales for the next 12 months to remain steady or possibly dip a little. A number of new gaming titles are also currently being worked on.
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