Nintendo raised its annual operating-profit forecast by 23 percent, to $6 billion, on stronger-than-expected demand for its Wii game console and DS portable game player. Its shares soared 8 percent. The video game market is weathering the consumer spending slump better than many other goods. “Games aren’t all that expensive, so they’re appealing even now,” said Tomomi Yamashita at Shinkin Asset Management. “Something like a car, of course, is quite different.” (Reuters)
The bottom line
August 29, 2008
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