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Submitted by Jon Wilcox on May 26 2005 - 12:11

Net income for the new fiscal year forecast to drop by $113 million according to Nintendo...

In a statement made to the Japanese Stock Exchange, Nintendo has today forecast its fiscal year results for 2006 to drop in terms of net income by around 14%, from an earlier prediction of $809 million to $694 million. The company, which is expected to release its new console codenamed â??Revolutionâ?? at some point during 2006, has also forecast a slight increase in net profit for the same year from the previously suggested $1.03 billion to $1.06 billion.

At the moment Nintendo seems to be winning the war of the handheld consoles against Sonyâ??s PSP machine, with global sales of the Nintendo DS reaching 5.27 million against the PSPâ??s 2.97 million combined figure in North America and Japan.

Weâ??ll have further updates on Nintendoâ??s financial performance throughout the fiscal year...

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