One of the most well-known examples of successful Blue Ocean Strategy application is gaming industry leader Nintendo. And over the past years as we’ve been monitoring their triumph, we’ve brought our readers several updates -- from it’s gaming Revolution to the introduction of Wii and WiiFit.
Not surprisingly, according to recently-published financial results, Nintendo’s Blue Ocean Strategy is more than paying off as it eyes a record profit this fiscal year -- in spite of a strong yen and precarious state of global economics. Now that’s defying conventional wisdom!
From the International Herald Tribune:
TOKYO: Japanese gamemaker Nintendo said Friday it was on course for record profits in the current fiscal year, bucking the deepening global financial crisis on surging demand for its blockbuster Wii home console.
Nintendo eyes a record net profit of 345 billion yen ($3.6 billion) in the year ending March 2009. The latest forecast was lowered 16 percent due to a stronger yen, but the new projection is still up 34 percent from the previous fiscal year.
Nintendo President Satoru Iwata said worldwide sales of the Wii and the DS portable machine remained brisk in the face of a global downturn, and U.S. and European retailers complained they could hardly keep up with demand.
"As far as the overseas market is concerned, I have not seen any signs of slowing demand for the Wii and the DS due to the financial crisis," Iwata told a news conference a day after the company released earnings results. "We can surely meet the sales target of the Wii."
"We keep hearing from European and American retailers saying, 'Don't you have more the Wii, the Wii Fit and the DS.' It's a welcoming headache for us," the president said.
Nintendo eyes a record net profit of 345 billion yen ($3.6 billion) in the year ending March 2009. The latest forecast was lowered 16 percent due to a stronger yen, but the new projection is still up 34 percent from the previous fiscal year.
Nintendo President Satoru Iwata said worldwide sales of the Wii and the DS portable machine remained brisk in the face of a global downturn, and U.S. and European retailers complained they could hardly keep up with demand.
"As far as the overseas market is concerned, I have not seen any signs of slowing demand for the Wii and the DS due to the financial crisis," Iwata told a news conference a day after the company released earnings results. "We can surely meet the sales target of the Wii."
"We keep hearing from European and American retailers saying, 'Don't you have more the Wii, the Wii Fit and the DS.' It's a welcoming headache for us," the president said.
[Image via ceoworld.biz .]
