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NINTENDO PROFITS JUMP AS WII PROVES HIT

 
Nintendo has said its net profit rose 43 percent in the three quarters to December as video-game fans worldwide snatched up its DS and next-generation Wii machines.

The Japanese video-game maker, whose operating profit more than doubled, said it was already well over half-way to its goal of selling six million Wii consoles by the end of the financial year.

"Thanks to the Wii, sales have been rising smoothly and robustly. We are pleased that we have been able to fulfill our goals for this term," said Nintendo spokesman Yasuhiro Minagawa on Thursday.

The news came as rival Sony Corp. finally unveiled a March launch date for its beleaguered PlayStation 3 for remaining regions of the world including Europe.

Nintendo, the maker of "Super Mario," said it registered net profit of 131.9 billion yen (1.1 billion dollars) in the nine months, up 43.1 percent from 92.2 billion yen in the comparable period in 2005.

Sales shot up 72.8 percent to 712.6 billion yen, while operating income jumped 102.5 percent to 167.6 billion yen, Nintendo Co Ltd said in a statement.

Despite nine-month net profit nearing 132 billion yen, the company kept its net profit forecast for the full financial year to March at 120 billion yen, with sales at 900 billion yen and operating income at 185 billion yen.

Nintendo, which has dominated the market for handheld machines with its Game Boy series, last year made a fresh attempt to crack into Sony's lead in household consoles with its Wii.The Wii -- which features an innovative remote control whose sensors let it be moved as a sword, tennis racket or steering wheel -- debuted in November in the United States.

"Wii hardware got off to a favorable start and Wii software titles such as 'The Legends of Zelda: Twilight Princess' enjoyed brisk sales as well," the Kyoto-based company said in a statement.

Nintendo said it has sold 1.25 million Wii units in the Americas, 1.14 million in Japan and 800,000 elsewhere from its launch to December 31 -- a total of 3.19 million.

The company had previously forecast it would sell six million Wii machines by the end of the March, meaning that it is well on track to meet its objective.

The company also said it had benefited from continued strong sales of hardware and software for its DS, a handheld console with a double screen that was released in 2004.

It said sales were led by its DS version of "Super Mario Brothers," Nintendo's most celebrated game relating the adventures of a pudgy Italian plumber.

Nintendo's strong earnings were in contrast to Sony, the maker of the PlayStation series, which sunk into the red in the three months to September as it wrestled with huge costs from recalling defective batteries.

Sony Computer Entertainment Europe said Thursday it will release the PlayStation 3 in Europe, Africa, the Middle East and Australasia on March 23 after production delays.

Only the more expensive 60-gigabyte model will initially be available. The advanced PlayStation 3 will sell for 599 euros (780 dollars), compared with 430 dollars or 49,980 yen for the standard version on sale in Asia and North America.

While Sony bills the PlayStation 3 as the most advanced video-game machine on the market, Nintendo and Microsoft are both selling next-generation machines for less. The Wii sells for 25,000 yen in Japan.

Provided by AFP.

 
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