Nintendo makes a motza

It's good to see someone's making money in 'these tough financial times'.

While most electronics companies are wearing sackcloth and covering their heads with ashes this quarter, Japan's Nintendo has made record profits.

According to AFP, Nintendo's annual net profit rose 8.5 per cent to $US2.8 billion, easily beating its own earlier forecasts

It claimed that the video game industry had been less affected than most by the global economic downturn, despite a drop in consumer spending.

However it did not think that will last. It predicted that it will have its first drop in operating profit in four years in the next quarter and that worldwide sales of the DS handheld console will fall slightly this year.

However, it thinks there will be a fairly steady stream of Wii sales for the rest of this year, the company said.