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Nintendo Q3 profits down 46 percent, slashes console sales projections

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Call it an unfortunate coincidence but Nintendo just announced its quarterly numbers only minutes after Sony announced its new quad-core Cortex-A9 pumping PSP (codenamed NGP) and new PlayStation Suite for gaming on Android tablets and cellphones. So what's the damage? Well, to start with, Nintendo's Q3 (October to December) operating profits were down 46 percent (104.6 billion yen ($1.3 billion) compared with 192.3 billion last year) on account of weaker Wii and DS sales coupled with a continued strong yen. The house of Mario also slashed its annual sales expectations projecting 16 million Wii consoles (down from 17.5 million units) and 22.5 million DS handhelds (down from 23.5 million) sold through March. It wasn't all bad news though as Ninty maintained its annual operating profit forecast of 210 billion yen assisted by a projected 25% increase in Wii software shipments. Mind you, that's not chump change, but gone are the days of the Wii / DS one-two knockout punch on the competition. And with a full quarter to go before the 3DS is launched globally, we're not expecting any improvement to the bottom line until the next fiscal year.

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