Nintendo expected to achieve 62 percent profit rise in the 2006-07

Nintendo expected to achieve 62 percent profit rise in the 2006-07

Nintendo is making headlines with the hugely successful Wii gaming console which is still hard to locate in retailing stores in the US market.

The company has now said that they are eyeing a record group recurring profit of 260 billion yen for the year that ended in March this year.

Nintendo has benefitted a lot from the strong sales of its handheld DS consoles and a weaker yen. Market analysts have said that they expect the company to post a 242.4 billion yen profit.

Nintendo had forecast DS sales to reach 23 million units in the 2006/07 business year. This is double the expected sales of their sole competitor Sony Playstation Portable.

They are also selling a lot more of their Wiis compared to Sony’s Playstation 3 gaming console.