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Wii sales propel Nintendo profits

Post by John Gillie / The News Tribune on July 31, 2008 at 8:35 am |
July 31, 2008 8:35 am

Sales of the interactive Wii game console rose 51 percent over last year propelling quarterly profits at Japan’s Nintendo to a 34 percent increase.

The company, whose U.S. headquarters is in Redmond, today reported net profits of $988 million for the quarter ending June 30.

The company sold 5.2 million Wii machines in the April through June period, double the combined sales of rival game machines, Sony’s PlayStation3 and Microsoft’s Xbox 360.

The game company, however, told analysts that its yearly profits would drop to nine percent because of slowing sales of its DS handheld game console.

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