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Archive for October 2nd, 2007

Nintendo Predicts Holiday Wii Shortage

The Nintendo Wii is about to celebrate its first birthday, but the shortages that held up profits last holiday season are threatening a repeat performance. That, combined with Microsoft ‘s Halo 3 validating its hype, could mean a slower holiday season for Nintendo.The Wii has far and away outsold Sony’s PlayStation 3 and Microsoft’s Xbox 360, despite the company’s inability to manufacture enough consoles to keep up with demand. And now, Nintendo of America President Reggie Fils-Aime indicated he isn’t confident Nintendo can produce enough machines for the holiday rush.

“We have been sold out worldwide since we launched,” Fils-Aime was quoted by the San Jose Mercury News as saying. “Every time we put more into the marketplace, we sell more, which says that we are not even close to understanding where the threshold is between supply and demand.”

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Nokia Buys Mapmaker Navteq for $8.1 Billion

Nokia announced one of the largest mobile industry acquisitions of the year on Monday. The mobile phone giant agreed to buy Navteq, a company that makes maps used in car navigation equipment, for $8.1 billion in cash.Navteq generated $582 million in revenues in 2006 and is a major player in the quickly growing navigation area. With location-based services becoming popular in mobile communications devices, Nokia is betting the industry is poised for even more growth.

“Location-based services are one of the cornerstones of Nokia’s Internet services strategy. The acquisition of Navteq is another step toward Nokia becoming a leading player in this space,” Nokia President and CEO Olli-Pekka Kallasvuo said in a statement. Joining forces with Navteq will help Nokia develop context and geographical information services more quickly, he added.

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