Nintendo raises forecasts

After a strong fourth fiscal quarter, Wii maker expects to beat previous sales estimate by more than $555 million.

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While the Nintendo Wii was in high demand and low supply throughout the last holiday season, it was actually the company's DS handheld that most exceeded its expectations. Nintendo today announced that it was raising its financial forecasts across the board for the fiscal year ended March 31, "primarily due to robust trends in sales" for DS games and systems.

"Merchandise does not move in the January-March quarter--that is the norm in this industry," Nintendo spokesman Yasuhiro Minagawa was quoted in a Reuters report. "But ours somehow did."

Previously, Nintendo anticipated posting net sales of 900 billion yen ($7.6 billion) for the year, but today the company bumped that figure up more than $555 million to 966 billion yen ($8.1 billion). The company expects to release its full results for the fiscal year on April 26.

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