NINTENDO, the world's biggest maker of video-game consoles, will sell a new version of its best-selling Wii model next year after profit fell to a seven- year low, on competition with Sony and Microsoft.
Net income slumped 66pc to $946m (€649m) in the year ended in March, the Kyoto-based company said yesterday.
The earnings, Nintendo's forecast for a 42pc jump in profit this fiscal year and predictions for operating profit and sales, all lagged behind analysts' estimates.
President Satoru Iwata, facing mounting competition from Sony's PlayStation 3 and Microsoft's Xbox 360, needs the second-generation Wii to rekindle the success of its top-selling console, which was introduced in 2006.
That will be the second major product in a year from Nintendo, which in February began sales of the 3DS model shown off by Natsumi Miyasaka (9), left. (Bloomberg)