Hot new consoles and smash hit titles take the company to new heights in the $30 billion video game biz
Nintendo (NTDOY) CEO Satoru Iwata and top execs at the gaming company's headquarters in Kyoto have every reason to be shouting the Japanese congratulatory cheer of "banzai" these days. For one thing, Nintendo's DS and DS Lite portable gaming system is enjoying light-speed growth.
On top of that, Nintendo's Wii console has blown away Sony's (SNE) PlayStation 3 in the early stages of the hotly contested battle for next-gen gaming consoles. Aided by a shortfall of PS3s in the critical U.S. market, Nintendo sold 1.1 million units of the Wii since the product's launch date last November, vs. 687,000 PS3s during roughly the same period. Sales of popular Nintendo game titles such as The Legend of Zelda: Twilight Princess and New Super Mario Bros. are also quick.
The Wii has outperformed the initial rollout phase of the high-powered Microsoft (MSFT) Xbox 360, which was released in November, 2005. Microsoft managed to sell only 607,000 units in the U.S. by the end of 2005.