Oct. 25 (Bloomberg) -- Nintendo Co., maker of the Wii game player, said first-half profit and sales doubled after the console outsold Sony Corp.'s PlayStation 3. The company raised its profit outlook to a record for the second time this year.
Net income jumped to 132.4 billion yen ($1.2 billion), or 1,035.36 yen a share, in the six months to Sept. 30, from 54.3 billion yen, or 424.86 yen, a year earlier, the Kyoto, Japan- based company said in a statement today. Sales climbed to 694.8 billion yen from 298.8 billion yen.
Nintendo, whose market value more than doubled this year, sold 7.33 million Wii players in the half, attracting consumers with tennis and boxing games that respond to a player's body movements. The company will sell the ``Wii Fit'' game, promoted as an exercise version, at the end of the year to try to keep its lead against Sony and Microsoft Corp.'s Xbox 360.
Microsoft sold more Xbox 360s than the Wii in September, the first time this year, helped by its ``Halo 3'' shooting title.
Sony earlier this month said it will cut the Japan price of the PlayStation 3 by as much as 10 percent, following a similar reduction in the U.S. Sony will also introduce its cheapest version of the player next month in Japan.
Nintendo, the world's biggest maker of handheld game players, today raised its annual profit outlook to 275 billion yen from a July forecast of 245 billion yen.
Operating profit, or sales minus the cost of goods sold and administrative expenses, rose to 188.8 billion yen in the half- year from 67.1 billion yen a year earlier.