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Nintendo profits sink 60 per cent

First quarter Wii and DS sales down for format holder, but year-end targets still on track

Nintendo's profits for the first quarter have dropped 60.6 per cent, due to a fall in demand for the Wii and the strong yen.

Net profit for the period ended June 30 was JPY 42.3 billion, compared to JPY 107.2 billion for the same period in the 2008 financial year.

Net sales were JPY 253.4 billion for the three month period, against JPY 423.3 the prior year.

DS hardware sales for the quarter were 5.97 million units worldwide, against 6.94 million the prior year, with software sales for the handheld reaching 29.09 million units, down from 36.69 million. Pokemon Platinum Version was noted as a highlight.

Sales of Wii hardware were 2.23 million units for the three months, compared to 5.17 million in 2008. Worldwide software sales for the home console were 31.07 million, down from the 40. 41 units the previous year.

"There were fewer blockbuster titles that briskly drove hardware sales this June quarter versus the same period a year ago when titles like Mario Kart Wii and Wii Fit were launched in overseas markets," said Nintendo.

The company expects to hit targets of 26 million Wii sales and 30 million DS units for the full-year, and an operating profit of JPY 490 billion.

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