Nintendo raises profit forecast

Wii boosts company by 37%

Boosted by sizzling demand for its Wii game console and DS handheld device, Nintendo has upped its operating profit forecast for fiscal 2007 by 37% to ¥370 billion ($3.1 billion).

Meanwhile, net profit is forecast to climb to $2 billion in the same period vs. $1.4 billion predicted originally.

For the fiscal year ending in March, Nintendo also expects group sales to rise to $11.47 billion worldwide vs. the $9.34 billion forecast earlier.

For the three months ending in June, Nintendo enjoyed a fourfold rise in net profit compared with the same period the previous year to $657.8 million from $127.4 million.

With Wii consoles and DS handhelds flying off shelves, Nintendo has boosted its year-on sales forecast for the former to 16.5 million units, up from 14 million, and for the latter to 26 million units, up from 22 million.

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