Nintendo Profit Plummets

wii tbi

Nintendo needs green shoots as the Wii slows and Apple becomes a stronger rival in portable gaming.

The company reported a 61% drop in profit but kept its full-year forecast.

MarketWatch: The Wii gaming console saw dramatically fewer sales than it did a year earlier, when stores were having trouble keeping it in stock. Domestic sales totaled 210,000 units from April to June, down from 530,000 a year before. In the Americas, Wii sales totaled 880,000 for the quarter, compared to 2.5 million in the year-earlier period.

Sales of the company’s portable Nintendo DS rose in Japan to 610,000 units from 580,000 in the first quarter of 2008, but sales in the Americas slipped to 2.51 million units from 2.71 million in the year-ago quarter.

Nintendo also cited the appreciation of the yen as eating into sales, which fell 40% to 253.5 billion yen from 423.4 trillion yen in the year-ago period.