Nintendo not doing so well

[TheGame]

http://cube.ign.com/articles/392/392735p1.html

"April 07, 2003 - Bloomberg reports that Nintendo's full-year profits have fallen by 38 percent due to lagging sales of its next-generation GameCube console. The company's net income was still 66 bill yen, or about $547 million.
Nintendo's projection that 10 million GameCubes would be sold by March 31, 2003 went unmet. The company had only sold 5.6 million GCNs by that period. Microsoft has sold more than eight million Xbox systems around the world since the console's release, according to Bloomberg.

GameCube software sales totaled 44.5 million copies, well shy of Nintendo's 55 million target.

"GameCube sales were bad worldwide," Chief Financial Officer Yoshihiro Mori told reporters in Osaka.

Nintendo blamed the sluggish performance of GameCube and its software to rising popularity of such PlayStation 2 titles as Grand Theft Auto.

More as it develops."