Nintendo Cuts 02/03 Shipment Goal
Nintendo announced today that it had cut its shipment target for this business year, through March of 2003. They have lowered their shipment of Nintendo GameCube consoles from 12 million units to 10 million units.
Also, Game Boy Advance shipments have been cut by 4 million, from 19 million units to 15 million. But on the good side, GameCube software units have been raised to 55 million from 36 million, although the Game Boy Advance software has decreased from 57 million to 50 million units.
“We plan to release several Nintendo-made big games later this year along with other software makers’ strong titles,” Nintendo president Satoru Iwata told a news conference. “We believe GameCube’s share of the U.S. market will rise to one-third from the current 20 percent after the Christmas shopping season.”
Jay Defibaugh, senior analyst at Credit Suisse First Boston, said the revision for GameCube software was a surprise, beating his estimate of 44 million units.
“This bullish outlook on software may be taken positively by the stock market,” Defibaugh said.
Iwata also said the company had no plans to reduce prices on the GameCube again after it lowered prices in May. Defibaugh said the downward revision on its overall earings was largely factored into the stock price and the market would closely watch demand for big titles such as Zelda.
Source: http://www.n-philes.com