Nintendo Profits Rise 77%

Nintendo's had a great year, profits soar 77% on last year with the company selling close to 24 million DS units.

"Massive demand for Nintendo's Wii games machine and soaring sales of its DS console have brought record profits for the Japanese firm. Its net profits grew 77.2% to 174.3bn yen (£731m; $1.4bn) in the year to 31 March, while sales surged 90%.

Nintendo had been struggling against rivals Sony and Microsoft until its new innovations revitalised its business. It said it sold 23.56 million handheld DS consoles, and was hoping to sell a similar number this year. The Kyoto-based firm added it aimed to sell 14 million Wii consoles in 2007/8, up from 5.84 million in the year to March."

Great news for Nintendo, with the Wii still with a huge demand and DS still selling like hot cakes, you can be sure that 2007/2008 will be even better for Nintendo.