Nintendo reports sales and earnings for Q1

[Great Rumbler]

Nintendo reports that in the 1st business quarter of the year (April to June) 3.24 million Game Boy Advance and Game Boy Advance SP units were sold, quite a large number compared to the only 800,000 Gamecube units sold in that same period. At the end of the business year in March Nintendo reported a 37% decline in net profit, but with higher profit in the 1st business quarter at 11.45 billion yen ($95 million) their 15 billion yen goal for the first half of the year was met. Overall sales are up 5% from the same period last year. As far as operating profit, only 21% of their 35 billion yen goal for the first half has been achieved. "Although we are keeping our full-year forecast unchanged, we think we can expect upside potential," said Yoshihiro Mori, Nintendo's Senior Managing Director.

Nintendo also said that the low reported sales of the GameCube are because that number represents orders from retailers, and many retailers still have a large inventory left over from last year. Analysts predict the number of GameCubes in inventory at somewhere between 5 and 6 million units. Because if this high number Nintendo has temporarily haulted the manufacturing of the GameCube, but plans to resume as usual in the fall.

Nintendo plans to have a news conference on Thursday in which President Satoru Iwata will discuss the business strategy of the company. I think one business analyst spoke for us all when he said, "We want to hear something new and specific from Nintendo on Thursday to tackle rivalry with Sony."

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800,000 isn't that great, but from what I heard MS only sold 500,000 Xboxes during that same time period. I don't know wether or not that's true, though.

N-Philes