Nintendo has raised its hardware and financial forecasts for fiscal 2008 after the company announced its impressive financial results for the first three quarters of fiscal 2008. However, Michael Pachter, videogame analyst at Wedbush Morgan Securities, believes that the forecasts are still very conservative. Pachter has raised his own fiscal sales estimates for Nintendo.
According to Next Gen, the big N posted impressive results for the first 9 months of fiscal 2008 on Thursday (Jan 24, 2008). Buoyed by the results, the company raised its sales expectations for fiscal 2008 to 1.63 trillion yen – a raise of 5.2%. The company also hopes to earn 275 billion yen during this fiscal, selling 18.5 million Wii’s and 29.5 million DS’ respectively.
Michael Pachter believes that the company will outdo these projections. He has predicted sales worth 1.66 trillion yen (up from 1.59 trillion yen) for Nintendo during the fiscal. He also expects that Wii hardware sales might be a million units more than the company’s forecast, as Nintendo could produce more than 20 million Wii’s this fiscal.
Everything appears rosy for Nintendo right now and it is in an enviable position. However, the company needs to take care of its hardware manufacturing situation, because a sustained Wii shortage might leave the door ajar for the PS3.
Read [Next Gen]