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April 25, 2008 7:22 AM PDT
Nintendo: No plans for Wii, DS price cuts
Nintendo does not anticipate cutting prices on its popular Wii or DS handheld game systems, President Satoru Iwata told an analyst meeting on Friday.
"Our earnings projection for the year is not based on hardware price cuts, and I don't think we are going to need them," Reuters quoted Iwata as saying.
Earlier this week, Nintendo reported that operating profit for the year ended in March more than doubled against the previous year, and predicted a 9 percent gain this year to 530 billion yen ($5.08 billion).
The forecast was below analysts' expectations, but Iwata's comments are an indication that company is not concerned about slowing sales.
Margaret is an assignment editor for CNET News, based in the Boston bureau. She also oversees the CNET Blog Network. E-mail Margaret.
