Nintendo profits down from first-half 2004

Nintendo has released their latest financial results, and they show a 21% drop in profits over the first half of 2004.

For reasoning, Nintendo fingered R&D costs for their next console, code-named Revolution, which is due to launch in 2006. Falling sales of GameCube consoles and software also contributed to the decline.

Prediction-wise, for FY 2005 Nintendo predicts it will sell 12 million Nintendo DS units (down from 12.4 million) and slashed their GameCube forecast to 2.4 million units, down from 2.8 million. However, the various incarnations of the Game Boy Advance line are expected to sell 11 million, up from 10.2 million.